The latest development in the bill to fully incorporate the crypto sector into the U.S. financial system has been centered on Senator Thom Tillis' request for more time to negotiate the approach to stablecoin rewards.

However, this may now be resolved. Tillis stated that the work on the Clarity Act has addressed many of the concerns raised by banking lobbyists regarding stablecoin yield and its potential impact on interest-bearing deposits.

He expressed his intention to encourage the committee chair to proceed with the markup, potentially paving the way for a mid-May hearing by the Senate Banking Committee. The legislation must clear this hurdle before a final version can be prepared for a Senate vote.

If the process is delayed further, it could jeopardize the 2026 Clarity Act due to the limited remaining time on the Senate schedule. The bill still faces several obstacles, including a markup hearing where lawmakers can propose amendments. Tillis plans to share the compromise text on stablecoin yield with stakeholders before the hearing and has invited bankers to continue negotiations on other points.

Crypto industry insiders have criticized the banking sector's reluctance to accept compromises, a sentiment echoed by President Donald Trump, who has expressed his determination not to let bankers hinder the Clarity Act. The industry views Tillis' recent remarks as a positive sign for progress.

Other challenging provisions remain to be resolved, including a Democrat-driven section aimed at banning government officials from personal business interests in crypto. Additionally, Senator Chuck Grassley's push for certain aspects of the legislation to pass through his committee could potentially cause further delays. Any additional delay will put the bill's chances at risk, with only about 11 weeks remaining on the Senate calendar before lawmakers disperse for midterm election demands.

Following Senate passage, the bill would then be considered by the U.S. House of Representatives, which has already passed its own version of the Clarity Act.

While there is a possibility of further issues arising in the House, advocates are currently counting on the House to approve the Senate's final product.