The CLARITY Act, a comprehensive legislation aimed at regulating the cryptocurrency market, has reached its final stages in the US Congress. The bill, which passed the House in July 2025 with strong bipartisan support, is now awaiting a Senate Banking Committee markup hearing.
However, several key issues remain unresolved, including stablecoin yield provisions and DeFi regulations. The banking industry and crypto companies have been at odds over stablecoin rewards, with some experts predicting that this issue will be the major hurdle blocking the bill's passage.
The Senate Banking Committee is expected to announce a markup hearing this week, but several other critical issues are simmering beneath the surface. These include the treatment of non-custodial software developers under the Blockchain Regulatory Certainty Act (BRCA) and ethics amendments that would prohibit government officials from holding or profiting from crypto assets.
Experts predict that the bill's passage is uncertain, with some estimating a 50% chance of it being signed into law this year. The legislative calendar is rapidly shrinking, and the bill must compete for limited Senate floor time against debates over the Iran military authorization and other pressing issues.