- During an event in Washington, D.C., Republican Senator Bernie Moreno of Ohio said that lawmakers are planning to finish the main crypto market structure legislation, known as the CLARITY Act, by the end of May.
- He warned that if Congress does not pass the bill by May, the entire process for crypto legislation could be delayed for a long time.
- The Senate Agriculture Committee advanced a version of the market structure bill in January that gives the Commodity Futures Trading Commission clear authority over digital commodities.
On April 22, Senator Bernie Moreno, a Republican from Ohio, spoke at an event in Washington, D.C. about the future of crypto regulation in the country, where he revealed the lawmakers’ plan to finish the major crypto market structure legislation by the end of May.
🚨NEW: At an event in DC this evening, Senator @berniemoreno was asked about the timeline for crypto market structure legislation.
“I think we’re going to get it done by the end of May,” he said.
The Ohio Republican warned last month that if the Clarity Act isn’t passed by May,… https://t.co/wKkIwF7tBT
— Eleanor Terrett (@EleanorTerrett) April 22, 2026
The bill, which is known as the CLARITY Act, is expected to create clear regulatory guidelines for the digital asset industry. This regulatory framework would decide which agency regulates which parts of the crypto market, such as the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC).
Senate Faces Tight Schedule for CLARITY Act Before Recess and Midterm Elections
The House of Representatives already passed its version of the bill in July 2025 with strong bipartisan support. However, this bill keeps getting delayed for one reason or another in the Senate.
Some recent sources revealed that the Senate Banking Committee markup for CLARITY may now be scheduled for early or mid-May instead of April, as more time is needed for final talks.
The repeated delay in the bill’s progress is adding pressure because every extra week reduces the chance of full Senate action before the political calendar gets crowded.
Moreno Calls Bank Concerns Over Stablecoin Yield “Fake”
In the speech, Moreno has addressed one of the major topics of discussion, which is stablecoin yield. He called out against objections from some banks. He said, “There’s a lot of noise in the system, and it’s completely fake.”
He affirmed that traditional banks should focus on innovation rather than blocking progress in the crypto sector.
Lawmakers in the Senate Banking Committee have worked through multiple rounds of negotiations for the CLARITY Act since the bill passed the House of Representatives in July 2025. The committee delayed its first planned markup in January after banks and crypto disagreed on rules for stablecoin yield.
To resolve this tussle for the CLARITY Act, White House officials stepped in to mediate talks between the two sides. By late March, senators reached a conclusion that limits direct yield payments on stablecoin balances while still allowing other incentives.
Earlier in the last month, Moreno warned that if Congress does not pass the CLARITY Act by May, the entire effort for crypto legislation could be delayed for a long time. The Senate faces a tight schedule because of the Memorial Day recess in late May and the approach of midterm elections later in 2026.
Stablecoin yield is the reward or returns that holders can earn on dollar-pegged digital tokens. The majority of banks are raising questions that such features could drain deposits away from them. However, Monero countered this thought, saying that the industry should move forward together.
Under U.S. President Donald Trump’s pro-crypto administration, the crypto sector witnessed a major development in regulatory frameworks for the crypto industry.
Progress on stablecoins has also advanced in recent months after the GENIUS Act was signed into law last year. That law requires issuers to back every token 1:1 with high-quality assets and submit regular attestations. For example, Tether has launched USAT, a US-regulated, dollar-backed stablecoin issued by Anchorage Digital Bank under the GENIUS Act framework.
The Senate Agriculture Committee also made progress in January by making progress on a version of the market structure bill that gives the Commodity Futures Trading Commission (CFTC) clear authority over commodities.
If the CLARITY Act clears this regulatory hurdle, it would define a clear regulatory structure to ensure sustainable growth while keeping safety in check. Similar developments were also seen across the world, such as in South Korea.
