Alex Thorne, head of research at Galaxy Digital, warned that the CLARITY Act may still face delays, as it remains uncertain whether there are other major hurdles besides the issue of stablecoin rewards. Meanwhile, pro-crypto Senator Cynthia Lummis once again called on her colleagues to work on passing the cryptocurrency bill once and for all.
Stablecoin rewards may not be the only obstacle to the Clarity Act
in Share XThorne pointed out to market participants that the stablecoin yield is the current hurdle, but it may not be the only one that could hinder the progress of the cryptocurrency bill. This came as he welcomed reports of a deal on stablecoin rewards, describing them as “encouraging.”
As CoinGape reported, The White House and key senators reached an agreement on stablecoin rewards, with plans to include language in the CLARITY Act aimed at resolving the conflict between the cryptocurrency industry and banks. The conflict between crypto banks was the main reason why the Senate Banking Committee postponed the tokenization that was scheduled for earlier this year.
However, as Thorne warned, some other major issues could arise once banks and the cryptocurrency industry settle disputes over stablecoin rewards. He has previously noted that it is “very likely” that there will be other hurdles, such as decentralized finance, developer protections, SEC powers, and even ethics.
It is worth noting that after yesterday’s report on the deal between the White House and key senators, Patrick Witt, a cryptocurrency advisor to Trump, said that there is still more work to be done to close stablecoin rewards and other “outstanding issues.” However, he called the deal a “major milestone” toward passage of the Clarity Act.
Credit to @Syn Tom Telles and @Sen_Alsobrooks To bridge the partisan divide to address a difficult issue. There is more work to be done to close this and other pending cases, but this is a major milestone toward passage of the CLARITY Act. https://t.co/pA79lMxGvI
-Patrick Witt (@patrickjoyt) March 20, 2026
Why does the cryptocurrency bill need to be passed by August?
during Interview with Crypto In AmericaChristine Smith, president of the Solana Institute, explained why it is important to pass the CLARITY Act by August to avoid relying on a vote in the fall. She noted that senators are usually busier starting in September, and it could be worse this time, given that this is an election year.
Smith said those senators will not be in Washington in October during the midterm elections, and that there is no guarantee that a final vote will be held in December. Meanwhile, she noted that the Senate is using September to deal with the appropriations bill.
As such, the Clarity Act faces a narrow window for passage between now and August. The key is for the Senate Banking Committee to move the cryptocurrency bill out of the committee stage as soon as possible, the Solana Institute head said.
Senator Cynthia Lummis, a member of the committee, recently said so Invoice encoding encryption It can continue after the Easter holidays. She also said they are looking forward to passing the bill by the end of this year.
In today’s post “Let’s get this done once and for all,” she added.
