The scheduled April markup of the CLARITY Act, a key crypto market structure bill, has been postponed to May. Senator Thomas Tillis, a leading negotiator, emphasized the need for more time to ensure comprehensive stakeholder engagement. The delay follows opposition from the banking industry regarding a stablecoin yield deal and criticism from the White House. The postponement has affected market sentiment, with the probability of the bill's passage dropping to a three-month low of 45% on prediction site Polymarket, before slightly recovering to 48%. The delay raises concerns about the bill's future, especially with the upcoming November midterms. The Digital Chamber, a crypto lobby group, has urged the Senate Banking Committee to expedite the markup process, highlighting the urgency for regulatory clarity in the crypto sector.
CLARITY Act Markup Delayed to May, Passage Odds Decline
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