The CLARITY Act, a major U.S. crypto regulation bill, is now facing a do-or-die moment. Senator Bill Hagerty confirmed the bill will enter the Senate Banking Committee this week.
If it doesn’t get a vote by the end of April, the biggest crypto legal framework will die without ever reaching a full Senate floor vote.
14 Day Deadline or End Of Clarity Act Bill
Senator Bill Hagerty confirmed that the CLARITY Act will go before the Senate Banking Committee during the current work period. The Senate now faces a tight two-week window before the Memorial Day break limits action time.
The main issue is that Chairman Tim Scott has not set a date for the markup yet. Without a set date, the bill is still stuck, and there is no clear progress.
After the Memorial Day break, the 2026 midterm elections will dominate the calendar. By October, senators will shift focus toward campaigning instead of passing legislation.
There is also a political risk. If Democrats regain control of the House and Senate in November, passing this bill could become significantly more difficult.
Therefore, senators said, if the bill does not reach the Senate floor by the end, it will then die.
Stablecoin Yield Fight That Almost Killed the Bill
The main issue delaying this bill for four months is stablecoin yield, whether platforms like Coinbase can give interest-like rewards on stablecoins.
Banks strongly opposed it, saying it could pull money out of bank accounts. The Independent Community Bankers of America even warned of $1.3 trillion in deposit losses for small banks, and big banks spent about $56.7 million lobbying against it in 2025.
Recently, Coinpedia news reported that a White House report challenged that claim. It said banning stablecoin yield would only increase bank lending by about $2.1 billion, which is just 0.02% of total U.S. loans, while consumers would lose around $800 million each year.
Why America Desperately Needs This Bill?
For almost 10 years, crypto rules in the U.S. have come mainly from lawsuits. The SEC sues projects, courts decide what a security is, and everyone else is left guessing the rules. There is still no clear law for exchanges, developers, or investors.
The CLARITY Act tries to fix this. It clearly splits control between the SEC and the CFTC.
On March 17, 2026, the SEC and CFTC said in a joint report that Bitcoin, Ethereum, Solana, XRP, and Dogecoin are digital commodities. The CLARITY Act will turn this rule into official law, preventing future changes easily.
The next two weeks are critical. If the Senate Banking Committee schedules and passes the markup. If the bill reaches the Senate floor in May, then it will be well and good, and final approval could happen by early summer
If lawmakers fail to act, they will delay the bill until after elections or abandon it in its current form.
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