US Senate's Crypto Clarity Act Faces Uphill Battle Against Tight Legislative Calendar

Despite the dwindling legislative calendar, a US Senate committee hearing scheduled for May could still keep the Crypto Clarity Act alive, provided it reaches a final vote by July, according to lawmakers and lobbyists. The bill's progress has been hindered by a stablecoin yield debate, which has sparked intense discussion between crypto insiders and banking representatives. The Senate Banking Committee hearing is a crucial step, but the bill must also be merged with a version passed by the Senate Agriculture Committee. Further revisions are expected, including an ethics piece that aims to limit senior government officials' ability to profit from crypto interests. The bill's fate hangs in the balance, with a 50-50 chance of being signed into law in 2026, according to a research note by crypto investment firm Galaxy.