CLARITY Act push: Senate markup targeted in April amid stablecoin yield rules

White House-linked officials are urging Congress to move the CLARITY Act (Digital Asset Market Clarity Act) quickly, aiming for Senate Banking Committee markup later in April and the possibility of passage in May. The goal is to tighten U.S. crypto market structure and reduce regulatory uncertainty ahead of the narrowing legislative window. Support is building across the policy and regulator landscape. David Sacks (former White House AI and crypto policy lead) argues that after the GENIUS Act set stablecoin regulatory baselines, the CLARITY Act would add needed structure for the wider digital asset market. Treasury Secretary Scott Bessent also pushed the Senate Banking Committee to accelerate the bill. Regulators signaled implementation readiness: CFTC Chair Michael Selig and SEC Chair Paul Atkins said they are prepared to carry out the CLARITY Act if it passes, under “Project Crypto,” framing it as protection against potential regulatory reversals under future administrations. The bill’s sticking point remains stablecoin yields. Earlier Senate delays in January and March were tied to unresolved disputes, especially around whether stablecoin holders can receive “passive” income. The latest reporting also highlights a DeFi safeguard effort, updating language so non-custodial protocol developers are less likely to be treated as financial intermediaries. On timing, Sen. Cynthia Lummis said markup is planned for late April, while Sen. Bernie Moreno warned that missing May could push meaningful U.S. digital asset policy to after the November 2026 midterms. For traders, the CLARITY Act is a near-term catalyst for regulatory-risk pricing—particularly for stablecoin- and exchange-adjacent strategies tied to yields, payments, and compliance expectations—while outcomes around stablecoin yield restrictions could still drive volatility.