Senate Divided as CLARITY Act Markup Likely Slips to May

• Senate likely delays CLARITY Act markup to May as notice deadline passes and lawmakers weigh banking sector concerns.
• Lawmakers split on urgency, with some pushing action while others seek more review of stablecoin yield provisions.
• Industry groups increase pressure for progress, warning delays could stall crypto legislation and shift activity offshore.

At a Washington, D.C. event, Senator Bernie Moreno said crypto market structure legislation could pass by the end of May. The remarks came as lawmakers debate timing for the CLARITY Act markup in the Senate Banking Committee. Moreno also warned last month that missing the May window could stall legislation indefinitely.

Senate Signals Shift Toward May Markup

However, momentum around an April markup appears to be fading. According to Crypto In America, the committee would need to notify members by Friday to proceed next week. That step has not occurred, indicating a likely delay.

Meanwhile, Thom Tillis said he expects the markup to move into May. The earliest possible window now falls in the week of May 11, after Senate recess. Tillis emphasized the need to review concerns raised by banking stakeholders before advancing the bill.

Notably, his office has faced pressure from bank lobbying groups, including the North Carolina Bankers Association. These groups have raised objections to elements of the stablecoin yield framework, although the text remains unpublished.

Lawmakers Split on Urgency and Timing

In contrast, Cynthia Lummis opposed further delays, calling them unacceptable. She said lawmakers should act on the progress already made instead of seeking a perfect version. Lummis also warned that delaying could increase offshore risks and narrow the legislative window.

At the same time, Moreno dismissed bank concerns over stablecoin yield. He described the objections as “noise” and urged banks to focus on innovation instead. His comments highlight ongoing friction between traditional finance and crypto policy efforts.

Industry Pressure Builds Around Clarity Act

As debate continues, industry groups have increased pressure on lawmakers. The Digital Chamber sent a letter urging the committee to move forward quickly. The group noted more than 270 days have passed since the House approved the CLARITY Act.

Additionally, sources said other trade associations plan to submit similar letters in the coming days. The push shows growing urgency within the crypto sector as the timeline tightens.

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