Lawmakers signaled a major advance Wednesday toward passing the long-awaited CLARITY Act, the bill intended to create a clearer market-structure framework for cryptocurrencies in the United States.
Tentative Stablecoin Deal
Politico reported that key senators have reached a tentative agreement with the White House on language meant to bridge a central dispute between banks and crypto firms over stablecoin yields — a development that could unblock the legislation in the coming weeks.
Senator Thom Tillis and Senator Angela Alsobrooks are the lead negotiators credited with forging the understanding alongside White House officials. Alsobrooks told reporters on Friday that she and Tillis “do have an agreement in principle,” adding that the deal represents substantial progress.
“We’ve come a long way. And I think what it will do is to allow us to protect innovation, but also gives us the opportunity to prevent widespread deposit flight,” she said.
Tillis, while optimistic, emphasized that the tentative pact is not final. He told interviewers he feels “like we’re in a good place,” but stressed he still plans to review the details with industry stakeholders before moving forward.
CLARITY Act Markup In Mid‑ To Late‑April
The timing for a Senate procedural move is also taking shape. Market expert MartyParty noted on X that Senator Cynthia Lummis has indicated the Senate Banking Committee plans to hold a markup in the second half of April, likely during the weeks beginning April 13 or April 20 after the Easter recess.
A planned CLARITY Act markup would expose the draft to changes and possible political maneuvering, but it would also be a crucial step toward floor consideration. As of right now, it’s unclear what more details will emerge from the current talks in Washington, D.C. for complete confirmation of possible dates.
Featured image from OpenArt, chart from TradingView.com