- Cynthia Lummis confirmed the Senate Banking Committee will mark up the CLARITY Act after Easter.
- Lawmakers resolved key issues including stablecoin yield and DeFi rules ahead of the markup.
- Congress aims to pass the bill by year-end despite delays from competing legislative priorities.
Senator Cynthia Lummis confirmed on Tuesday in Washington, D.C., that the Senate Banking Committee will advance the CLARITY Act after the Easter recess. Speaking at the DC Blockchain Summit, she outlined plans for an April markup. Lawmakers aim to finalize crypto regulations, resolve key disputes, and move the bill toward passage before the end of the year.
Markup Timeline Gains Structure
Cynthia Lummis said the committee will begin markup in the second half of April. She noted lawmakers have worked on the bill since Labor Day. Coordination with stakeholders has taken months, requiring steady adjustments.
However, she explained that the committee must first align its version with the agriculture panel. That step involves merging banking and commodities provisions into one package. Meanwhile, an ethics issue tied to lawmakers and digital assets remains unresolved.
She clarified that the committee lacks jurisdiction over that matter. Therefore, a separate process must address it before full alignment. Still, Lummis credited Senate leadership for allowing time to build consensus.
Yield And DeFi Issues Narrow
Attention has now shifted to policy details that previously slowed progress. Lummis said stablecoin yield debates had delayed negotiations. However, she stated, “We think we’ve got it,” indicating progress.
Similarly, decentralized finance discussions have reached a resolution. Lawmakers had debated risks tied to illicit finance. Now, according to Lummis, those concerns have been addressed after extended talks.
This development removes a major hurdle before markup. Earlier concerns from industry figures, including Jake Chervinsky, highlighted tensions around DeFi and banking interests. Despite that, lawmakers now report alignment on key provisions.
Legislative Pressure Builds Ahead
Momentum continues to build as competing priorities pressure the timeline. Lummis pointed to issues like war funding and the SAVE Act as delays. However, she urged lawmakers to move quickly.
Her remarks align with Senator Kevin Cramer’s earlier calls for urgency. Both lawmakers warned that delays could affect the bill’s chances. Additionally, Senate Majority Leader John Thune previously indicated April as a likely window.
If passed, the Senate must reconcile its version with the House. Lawmakers would then send a final bill to President Donald Trump. Lummis reiterated that the goal remains clear, stating the bill will pass before year-end.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Nauru appoints crypto entrepreneur Dadvan Yousuf as Commissioner for International Trade, driving a digital asset strategy
Nauru appoints cryptocurrency entrepreneur Dadvan Yousuf as its Commissioner for International Trade to advance a digital asset strategy, attract global investment, strengthen cooperation with virtual service providers and technology companies, and help position Nauru as a virtual asset hub.
GateNews57m ago
Is it possible to bypass the Financial Supervisory Commission’s rules on using credit cards to buy crypto? Odingding promotes the Wallet Pro crypto purchase service with a U.S. debit card
OwlPay and Wallet Pro services launched by Oding Ding use stablecoin technology to enable B2B cross-border payments, and they have partnered with international payment giants to showcase their expansion ambitions in the fintech space. By operating from abroad, Oding Ding bypasses Taiwan’s regulatory restrictions, offering fast virtual-asset trading; at the same time, faced with the newly enacted Virtual Asset Services Act, it may in the future become a reference template for other foreign-funded companies entering the Taiwan market.
CryptoCity59m ago
Bank of Korea Calls for Crypto Market Circuit Breaker After Bithumb Error
The Bank of Korea advocates for a circuit breaker in South Korea’s crypto market after Bithumb's February blunder, where 620,000 BTC was mistakenly distributed. The proposal aims to enhance market safeguards and contain operational errors through a halt mechanism similar to stock markets.
CryptoNewsFlash1h ago
In Q1 2026, Web3 projects suffered losses of over $460 million from hacks and scams, with phishing attacks leading the way.
Hacken’s report shows that in the first quarter of 2026, Web3 projects lost $464.5 million due to hacker attacks and scams, with phishing and social engineering attacks accounting for $306 million in losses. In addition, hardware wallet scams accounted for the bulk of the losses. Moreover, losses were also significant due to smart contract vulnerabilities and access control failures. In terms of regulation, the European legal framework has increased security monitoring requirements.
GateNews1h ago
The U.S. IRS steps up tax oversight of cryptocurrency; the tax filing deadline is April 15
The U.S. Internal Revenue Service increases its crackdown on tax evasion involving cryptocurrency, requiring investors to proactively report their transactions by April 15. Starting in 2025, brokers will be required to report digital-asset gains, and investors will need to verify their costs themselves. 61% of investors don’t know about the new rules, and 52% are worried about making mistakes when filing. Experts recommend collecting transaction records to avoid penalties and criminal prosecution.
GateNews2h ago
Encourage innovation! A U.S. judge bars Arizona’s regulation of prediction markets, and pauses the prosecution of Kalshi
A U.S. federal district court ruled to block Arizona from suing the prediction market platform Kalshi under its gambling laws, finding that the federal Commodity Futures Trading Commission has exclusive jurisdiction. The ruling affects the boundary between state and federal authority in regulating financial markets. Kalshi has insisted that its business is a financial product rather than traditional gambling. Rulings by different states on prediction markets have varied, and the Trump family has also expressed support for prediction markets.
CryptoCity3h ago
