✨ CLARITY ACT — April 19, 2026 Status Report

The CLARITY Act, a cornerstone of US crypto regulation, entered the third week of April at a critical juncture. Passed by the House of Representatives in 2025, the bill has been pending in the Senate for months. The picture has become clearer in the last 7 days: the timeline is tightening, the White House is pressing, and the dispute over stablecoin yields between banks and crypto companies is at its closest, yet most fragile, point of resolution.

✨ Facts from the Last Week

🔹 The Senate Banking Committee removed the CLARITY Act from its agenda for the week of April 20. The committee expects Senator Tom Tillis to release the final draft this week. The draft includes compromise provisions regarding stablecoin yields, but Coinbase and banking groups are still divided on limits.

👉 This is not a postponement, but the final window for amendments.

🔹 White House pressure is increasing

President Trump has reiterated his call for Congress to pass the bill in recent statements. The administration is positioning the CLARITY Act as a framework to regulate stablecoin yields and boost crypto innovation while protecting banks. Treasury Secretary Bessent previously stated that the passage of the law this spring would give the market "great confidence."

The White House is also continuing to oversee direct negotiations between banking and crypto representatives.

🔹 The critical issue: stablecoin yield

At the heart of the dispute is a single question: should third parties (exchanges, wallets) be able to offer yields to their clients on stablecoins?

Banks: See a risk of deposit flight
Crypto companies: Argue that this right should be granted after the GENIUS Act

The compromise in the Tillis draft envisages setting limits on yield and requiring transparency. The OCC also published a rule proposal last week stating that contracts between stablecoin issuers and third parties should be clear, but did not directly prohibit yield.

🔹 The Political Clock is Ticking

Analysts say that if committee approval isn't forthcoming in April, the law could be delayed until 2029.

✨ What it Means for Investors

The CLARITY Act is currently caught between three forces:

White House pressure for speed
Banks' defense of deposits

The crypto industry's demand for legal clarity

👉 Short term: The week of April 20-26 will be decisive for the Tillis draft and the committee schedule. If the draft is released, the market will price it as a risk-on signal.

👉 Medium term: If the law passes, CFTC oversight will be clarified, paving the way for federal token issuances and exchange listings in the US. If it doesn't pass, companies will continue to move offshore, and regulatory uncertainty will persist until the 2026 elections.

🧐 Watch the Washington calendar more than price movements during this process. The CLARITY Act is the only law that will change the structural beta of the US crypto market. News flow creates volatility, but the final text sets the lasting direction.

This content is for informational purposes only and is not investment advice.
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