This week (April 13–19, 2026), the Digital Asset Market Clarity Act (H.R. 3633) experienced a series of critical delays despite major endorsements from top regulators and industry leaders.
Key Developments This Week
- Markup Delay: On April 15, the Senate Banking Committee removed the Clarity Act from its daily session calendar. Chairman Tim Scott (R-S.C.) later confirmed that a scheduled markup would not occur this week due to three remaining sticking points: stablecoin yield language, DeFi provisions, and a lack of Republican unity on the committee.
- Legislative Deadlock: Senator Thom Tillis (R-N.C.) announced on April 16 that he would not release the revised legislative text as expected. He cited a need for further clarity on the committee's scheduling before moving forward with the compromise language on stablecoin rewards.
- Urgent Warnings: Senator Cynthia Lummis (R-Wyo.) intensified her calls for immediate action, warning on April 10 and 11 that this is the "last chance" to pass the bill before the 2026 midterm election cycle stalls the process until at least 2030.
Compromise and Market Impact
- Stablecoin Yield Formula: The primary conflict remains between the banking lobby (fearful of deposit flight) and crypto firms. The current compromise prohibits passive yield (interest just for holding) but permits activity-based rewards (yield tied to payments or platform use).
- Endorsements and Odds: Despite the delay, the bill received significant support this month from Treasury Secretary Scott Bessent and Coinbase CEO Brian Armstrong, who reversed his previous opposition. However, Polymarket odds for the act's passage in 2026 dropped from 82% to 60% this week following the missed markup.
- Critical Deadline: Analysts from Galaxy Research and other firms have noted that if the bill does not clear the Senate Banking Committee by the end of April 2026, its chances of becoming law this year fall to near zero.
Would you like to see the specific impact projections for XRP or other tokens if this legislative window is missed?
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