Senate leader says Clarity Act unlikely to advance before April: report

U.S. Senate Majority Leader John Thune signaled that a key cryptocurrency market structure bill could face further delays, suggesting lawmakers may need more time to resolve outstanding issues.

According to a Punchbowl report cited by journalist Eleanor Terrett on X, Thune said that he does not expect the crypto market structure bill — also known as the Clarity Act — to clear the Senate Banking Committee before April.

“Market structure is a bill that’s, I’m hoping, going to come out of the Banking Committee soon, probably not before, I would say, the April time period,” said Thune, per the report. The Block has reached out to Thune for further comment.

The Clarity Act is designed to establish a comprehensive regulatory framework for digital assets in the U.S., clarifying oversight of crypto markets and participants. The House of Representatives has already advanced the legislation, while discussions continue in the Senate.

Also on Thursday, the Senate passed a comprehensive housing bill featuring a provision that prohibits the Federal Reserve from issuing a CBDC. The legislation now moves to the House for further debate and voting.

Meanwhile, lawmakers are prioritizing President Donald Trump’s SAVE America Act, which Thune said the Senate is set to vote on next week, CNBC reported. The bill would require Americans to provide documentary proof of citizenship to register to vote. Trump previously said he will not sign any legislation into law until the SAVE America Act is passed.

Stablecoin yield

The legislation has been debated for months amid lobbying from both crypto firms and traditional banking institutions. A key dispute centers on whether companies should be allowed to offer yield on stablecoins, which banks argue could draw away deposits from traditional venues without complying with strict regulations.

The White House, however, has pushed back on that concern. Patrick Witt, executive director of the President’s Council of Advisors for Digital Assets, suggested earlier this week that compliant stablecoins could actually attract new global capital into the U.S. banking system rather than draining deposits.

Despite the uncertain timeline, policy analysts have said the crypto market structure framework could still be a major market driver this year. Analysts at JPMorgan described the potential passage of such legislation as a “positive catalyst” for the industry in the second half of the year, suggesting that regulatory clarity could unlock broader institutional participation and investment.

President Trump also weighed in earlier this month, saying in a Truth Social post that passing the Clarity Act is the “next step to finish the job” after the GENIUS Act marked the country’s first step to establish dominance in the digital asset space.