- Cynthia Lummis confirmed the Senate Banking Committee will mark up the CLARITY Act after Easter.
- Lawmakers resolved key issues including stablecoin yield and DeFi rules ahead of the markup.
- Congress aims to pass the bill by year-end despite delays from competing legislative priorities.
Senator Cynthia Lummis confirmed on Tuesday in Washington, D.C., that the Senate Banking Committee will advance the CLARITY Act after the Easter recess. Speaking at the DC Blockchain Summit, she outlined plans for an April markup. Lawmakers aim to finalize crypto regulations, resolve key disputes, and move the bill toward passage before the end of the year.
Markup Timeline Gains Structure
Cynthia Lummis said the committee will begin markup in the second half of April. She noted lawmakers have worked on the bill since Labor Day. Coordination with stakeholders has taken months, requiring steady adjustments.
However, she explained that the committee must first align its version with the agriculture panel. That step involves merging banking and commodities provisions into one package. Meanwhile, an ethics issue tied to lawmakers and digital assets remains unresolved.
She clarified that the committee lacks jurisdiction over that matter. Therefore, a separate process must address it before full alignment. Still, Lummis credited Senate leadership for allowing time to build consensus.
Yield And DeFi Issues Narrow
Attention has now shifted to policy details that previously slowed progress. Lummis said stablecoin yield debates had delayed negotiations. However, she stated, “We think we’ve got it,” indicating progress.
Similarly, decentralized finance discussions have reached a resolution. Lawmakers had debated risks tied to illicit finance. Now, according to Lummis, those concerns have been addressed after extended talks.
This development removes a major hurdle before markup. Earlier concerns from industry figures, including Jake Chervinsky, highlighted tensions around DeFi and banking interests. Despite that, lawmakers now report alignment on key provisions.
Legislative Pressure Builds Ahead
Momentum continues to build as competing priorities pressure the timeline. Lummis pointed to issues like war funding and the SAVE Act as delays. However, she urged lawmakers to move quickly.
Her remarks align with Senator Kevin Cramer’s earlier calls for urgency. Both lawmakers warned that delays could affect the bill’s chances. Additionally, Senate Majority Leader John Thune previously indicated April as a likely window.
If passed, the Senate must reconcile its version with the House. Lawmakers would then send a final bill to President Donald Trump. Lummis reiterated that the goal remains clear, stating the bill will pass before year-end.
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