According to Coinbase’s top lawyer, Paul Grewal, the CLARITY Act might soon be discussed in a Senate Banking Committee hearing. However, progress hinges on resolving a disagreement regarding interest earned on cryptocurrencies and stablecoins.
This happened as support for the bill grew, with lawmakers and industry leaders expressing increasing concern that time to pass it was running out.
Deadline Pressure Builds
Senator Cynthia Lummis believes it’s unlikely the United States will have another significant opportunity to pass this legislation before 2030.
As an analyst, I’m following the situation closely. On Friday, she posted on X stating that this is the final opportunity to pass the CLARITY Act for the foreseeable future, and cautioned that we risk jeopardizing the country’s financial stability if we don’t act now.
This is the final opportunity to pass the Clarity Act for the next several years, at least until 2030. It’s crucial that we protect America’s financial stability and can’t risk failing to do so.
— Senator Cynthia Lummis (@SenLummis) April 10, 2026
The warning came at a difficult time. People in the crypto industry are increasingly worried about the bill’s chances of passing this year, especially with the November elections potentially changing what Congress focuses on and delaying progress on crypto laws.
Lummis’ comments framed the fight as one that cannot sit on the shelf much longer.
David Sacks, who previously advised the White House on AI and cryptocurrency, expressed a similar opinion the day before. He suggested that the Senate Banking Committee, and then the entire Senate, should approve legislation focused on market structure, and he’s confident that President Trump would sign such a bill into law.
The GENIUS Act, signed by President Trump last year, established U.S. leadership on stablecoins.
The CLARITY Act, which aims to establish clear guidelines for digital assets, would apply the same principles to all cryptocurrencies and similar technologies.
Secretary Bessent is right: the…
— David Sacks (@DavidSacks) April 9, 2026
Industry Push Gathers Steam
It’s not just politicians pushing for change. Chris Dixon, who leads a16z Crypto, believes clear rules benefit both customers and businesses.
A frequent argument within the crypto industry is that stronger regulation could boost innovation and attract more everyday investors to digital assets.
This idea is gaining traction throughout the gaming industry. Robbie Ferguson, founder of Immutable, stated on April 3rd that the CLARITY Act could potentially dwarf the growth the gaming world has seen over the last ten years.
Coinbase CEO Brian Armstrong signaled on Friday that the bill should be passed, noting it had been delayed for months.
Stablecoin Fight Still Looms
Despite recent progress, a major issue still needs to be resolved. According to Grewal on April 2nd, the bill might soon be reviewed by the Senate Banking Committee, but its future hinges on reaching a consensus regarding stablecoin interest rates.
This problem has stalled the legislation’s progress, despite growing backing from businesses and certain regulators.
Financial regulators are also speaking up now. SEC Chairman Paul Atkins stated that Congress should pass laws to improve how markets function and send them to President Trump for approval. He also warned against what he described as overreaching or harmful actions by some regulators.
Now, the CLARITY Act is being seen as a key indicator of whether Washington can agree on regulations for cryptocurrency before the election season ramps up.
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2026-04-12 19:12