On Capitol Hill, there’s uncertainty around the CLARITY Act Senate markup. Currently, Tim Scott or the Senate Banking Committee have not announced any decision on the same.
Will CLARITY Act Markup Be Announced This Monday?
Journalist Eleanor Terrett said that “Friday has come and gone with no word” on the CLARITY Act markup for next week. Although Friday was not a hard deadline, a hearing can be called with a notice of three days. So, Monday is the deadline before the Senate begins a seven-day recess.
The other reason for the delay is a committee vote. The Senate Banking Committee has a nomination for Federal Reserve chair Kevin Warsh on Wednesday, April 29 that may be preempting the vote. Terrett said that “all signs point to this slipping into May” as there has been no official update.
Moreover, the postponement is also tied to negotiations around the stablecoin rewards. Senator Thom Tillis has asked for more time to consult with banks over the stablecoin yield.
Earlier, he delayed the stablecoin yield draft, which is expected before the CLARITY Act markup. No draft has been published yet, making it unlikely to be announced soon.
Sources in the Senate and industry are anticipating the markup will be delayed until at least the second week of May. This is consistent with other delays, such as the delay in the discussion of the stablecoin yield draft.
Political Divide & Debate On Stablecoin Yield
As the CLARITY Act faces delay, Cardano founder Charles Hoskinson commented on the political backdrop in a livestream. He said, “It wasn’t wise back in 2025 to go toe to toe with the President of the United States.” He also took aim at government officials for issuing their own coins for their own benefit.
Hoskinson connected these issues to the crypto legislative deadlock. “And now where are we at? A resigned crypto czar, no clarity act, and a very difficult election season,” he said. He also argued that Democrats’ anti-crypto push is greater than that of the Gary era.
Meanwhile, opinions are divided on Capitol Hill. Senator Bernie Moreno was optimistic about a quick passage, but cautioned that the the CLARITY Act could be pushed aside if not finalized soon. He accused banks of making “completely fake” concerns about stablecoin yield.
Negotiations are underway as policymakers try to find common ground, especially on the issues of decentralized finance and stablecoin rewards. When the markup will occur is unclear and most industry participants are expecting a delay to May.
Source: https://coingape.com/clarity-act-markup-to-be-announced-on-monday-heres-what-to-expect/
