The CLARITY Act (CLARITY), a U.S. Senate bill on crypto market structure, is increasingly likely to regain momentum at the Senate Banking Committee review stage.

On April 29, blockchain media outlet CoinDesk reported that Senator Thom Tillis said, "A significant portion of the concerns raised by the banking sector have been resolved," adding, "I will recommend to the chairman that he proceed with the amendment review process."

The key issue behind the delay in the bill was stablecoin rewards. The banking sector has sought more time to adjust the bill’s wording, saying interest-bearing deposits could be eroded by the stablecoin profit structure. Tillis said, "Many concerns have been resolved through negotiations to date," adding, "I will recommend to the chairman that he proceed with a markup."

If the Senate Banking Committee begins a markup in mid-May, the bill could move to the stage of aligning a final version for a Senate floor vote. If that schedule is pushed back further, the chances of passage within 2026 could drop sharply.

Tillis plans to disclose to stakeholders a compromise plan on stablecoin profits a few days before a hearing. He said he would keep the possibility of negotiations open if the banking sector raises additional issues. He said, "If they come to the table in good faith, we can reach additional agreement on a few issues."

The crypto industry is taking the remarks as a sign of progress. Cody Carbone (코디 카본), chief executive officer of the Digital Chamber, which advocates crypto policy in Washington, said, "The momentum toward a May markup is greater than ever," adding that the bill should be placed on the committee schedule as soon as possible.

Remaining issues are also substantial. A leading example is a provision pushed by Democrats that would ban public officials from having personal business conflicts of interest in crypto. The provision is discussed as targeting crypto businesses involving U.S. President Donald Trump and his family. Tillis was reported to have agreed that such ethics rules are needed in the bill, but the matter may not be directly handled during the Senate Banking Committee review process.

Jurisdiction is another variable. Senate Judiciary Committee Chairman Chuck Grassley argues that parts of the bill should go through Judiciary Committee review. Provisions on legal protections for decentralised finance (DeFi) developers could be included. If that demand gains traction, the bill’s processing schedule could lengthen again.

The timetable is tight. The Senate can effectively handle legislative business for only about 11 more weeks before entering the midterm election schedule. Even if it passes the Senate, the bill must clear the House of Representatives again. The House passed its own version of the CLARITY Act last year, but it is not yet certain it will accept the final Senate version as it is.

Recently, the House and Senate have had difficulty coordinating on other issues as well, such as the Department of Homeland Security budget. In this situation, whether the CLARITY Act clears the Senate Banking Committee in time is expected to be the first turning point in discussions on bringing crypto into the U.S. regulatory mainstream.