Senator Delays Clarity Act While Banks Push Back-Is Crypto Regulation Just a Joke?

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So, here we are again. The Senate Banking Committee’s Clarity Act markup is slipping to May. I mean, can you believe it? Sen. Thom Tillis (R-NC) just sauntered up to the reporters and said, ‘Oh, no action in April, folks!’ Like he’s announcing the weather or something.

Now, Tillis, who’s the big cheese negotiating on those stablecoin yield provisions, wants to hear from everyone and their mother before moving forward. This delay pushes the earliest possible action to the week of May 11. Great, just what we need-more waiting.

Bank Lobbying Pressures Tillis on Stablecoin Yield

And let’s talk about this pressure campaign from banking groups, like the North Carolina Bankers Association. They’re all up in arms about some stablecoin yield compromise that nobody even knows the details of! It’s like they’re objecting to a movie they haven’t seen yet. What’s the deal with that?

“It’s very important to me not to accelerate things, to hear everybody, and give them a rational basis for what we do accept,” Tillis reportedly told the press. Rational basis? Come on, this is Washington!

But wait, here comes Sen. Cynthia Lummis (R-WY) with a sharp pushback, saying that “further delay is unacceptable.” Wow, tell us how you really feel, Cynthia! She’s warning about offshore risks like they’re the latest horror film. Spooky stuff.

Oh, and then there’s the Digital Chamber sending a letter to the Banking Committee. They’re practically begging for immediate action. Like, c’mon, it’s been more than 270 days since the House passed the Clarity Act. How many times can you hit snooze on this thing?

Today, we sent a letter to @BankingGOP leadership urging the Committee to move digital asset market structure legislation to markup and continue improving the bill in a transparent, deliberative, and bipartisan manner. Read our full letter:

– The Digital Chamber (@DigitalChamber) April 20, 2026

But over at the Office of the Comptroller of the Currency (OCC), they’re marching ahead with the GENIUS Act. Yes, GENIUS! Talk about a name that sets the bar high.

This rule is setting up all these standards for payment stablecoin issuers under federal oversight. The public comment period closes on May 1. You know, just in case you were thinking about voicing your opinion about something that probably won’t change anyway.

The OCC’s proposed rule sets forth implementing the GENIUS Act to establish a regulatory framework in which the stablecoin industry can flourish in a safe and sound manner. Comment by May 1 and learn more at .

– OCC (@USOCC) April 22, 2026

So, what does all this tell us? We’ve got a split pace in US crypto regulation. On one side, the OCC is trying to keep things moving, while on the other, the broader market structure bill is just stuck in traffic. Welcome to the world of politics, folks. Buckle up!

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2026-04-22 20:40