The initial agreement on stablecoin rewards has renewed hope for the CLARITY Act, a key piece of cryptocurrency legislation.
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- Galaxy Research warns that the cryptocurrency bill still faces critical regulatory hurdles going forward.
- Despite the recent stablecoin deal, major issues such as DeFi regulation remain unresolved.
- The cryptocurrency industry is facing uncertainty as the legislative clock is running out on the bill.
The agreement that It solves The major conflict between traditional banks and the digital assets industry has fueled stalled legislation. However, experts warn that the Clarity Act still faces significant challenges and must overcome a series of unresolved issues before it can be passed.
In March 2026, key lawmakers, including Senators Thom Tillis (R-Md.) and Angela Alsobrooks (D-Md.), reached a “tentative agreement” with White House officials on the issue of stablecoin rewards. This agreement aims to address concerns raised by traditional Wall Street institutions regarding stablecoin rewards offered by exchanges. Critics argue that these rewards could lead to a mass exodus of deposits from traditional banks to cryptocurrency exchanges.
Senator Tillis and Albrooks’ agreement was considered a major step forward in efforts to solve the problem, as it was one of the main obstacles that have hindered the passage of the CLARITY Act since January. The White House, through cryptocurrency policy adviser Patrick Witt, praised the bipartisan effort, calling the agreement a “major milestone” toward passage of the legislation.
While agreeing on stablecoin rewards is an important development, the law of clarity still faces other hurdles. Alex Thorne, Head of Research at Galaxy Digital to caution Although the dispute over stablecoins is the current focus, it is not the only challenge. Thorne pointed to several other controversial topics that need to be resolved, including decentralized finance (DeFi) regulation, developer protections, and the powers of the Securities and Exchange Commission (SEC).
Thorne stressed that the window to pass the Clarity Act this year is closing quickly. He stated that if the bill does not pass through the Senate Banking Committee by the end of April, the chances of its passage in 2026 will become very low. With limited time for discussion, Thorne and other experts warn that the clock is ticking for the Clarity Act to move forward.
The path to the law of clarity
the The law of claritywhich aims to create comprehensive regulatory frameworks for cryptocurrencies, is crucial to the long-term growth of the industry. However, with the issue of stablecoin rewards now addressed, lawmakers and the White House must turn their attention to remaining hurdles that could prevent the bill from reaching the Senate floor. The legislation needs to pass the Senate by early May to have a realistic chance of becoming law in 2026.
