The U.S. Senate Majority Leader said the Clarity Act is not expected to advance before April.

Senate Majority Leader John Thune stated that the Clarity Act, a bill aimed at establishing a comprehensive regulatory framework for digital assets in the U.S., is not expected to pass the Senate Banking Committee before April. The bill, which aims to create a comprehensive regulatory framework for digital assets, has been pushed forward by the House of Representatives, but Senate debate continues. A major obstacle to its progress is the issue of stablecoin yields, with the crypto industry and the banking sector yet to reach a compromise. The banking industry believes that allowing stablecoins to offer yields could lead to an outflow of deposits from traditional institutions, while Patrick Witt, executive director of the White House Presidential Advisory Committee on Digital Assets, stated this week that compliant stablecoins could attract new global capital to the U.S. banking system. Additionally, the Senate passed a comprehensive housing bill that includes provisions prohibiting the Federal Reserve from issuing CBDCs; this bill will be sent to the House for further consideration and a vote. Currently, lawmakers are prioritizing President Trump's SAVE America Act, which Thune indicated the Senate will vote on next week. JPMorgan analysts previously described the potential passage of crypto market structure legislation as a "positive catalyst" for the industry in the second half of the year. Trump also stated earlier this month on Truth Social that passing the Clarity Act is "the next step in getting things done" after the GENIUS Act.