US Senate's Crypto Clarity Act Faces Tight Deadline Amid Stablecoin Debate

The US Senate's Crypto Clarity Act, a critical market structure legislation, is facing a tight deadline due to a stablecoin yield debate that has dragged on for months. Despite the challenges, a potential committee hearing in May could keep the bill alive, as long as it can reach a final vote by July. The legislative calendar is running out of room for this year, but lobbyists and a lawmaker aide believe that a couple of weeks' delay to address stablecoin-yield concerns may not be fatal. The bill's success hinges on resolving the stablecoin yield issue, which has been a major point of contention between the crypto industry and the banking sector. If the bill manages to clear the Senate Banking Committee, it will need to be merged with the version that passed the Senate Agriculture Committee, and then approved by the House. The final step would be President Trump's signature, which is expected to be the easiest part of the process. The Crypto Clarity Act, if approved, would become the second major crypto bill to become law, following last year's Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act.