Senator Kevin Cramer has urged Congress to advance the CLARITY Act markup before Easter, warning that delays could stall progress. This comes as the Senate Banking Committee faces mounting legislative pressure. Cramer stressed urgency, citing risks of regulatory gaps and potential loss of U.S. leadership in digital assets.
CLARITY Act Timeline Tightens Ahead of Easter
In a Fox Business interview today, Cramer said lawmakers must act quickly to establish clear rules for digital assets. He emphasized the need for U.S. guardrails defining commodities and securities. He also highlighted the need to separate traditional and non-traditional banking activities.
He warned that delays beyond Easter could weaken chances of passage. He said political timelines later in the year could complicate progress. This coincides with calls by Galaxy’s Alex Thorn, who warned the April deadline is critical.
Senator Kevin Cramer stated that “time is not our friend” as legislative priorities compete for attention. He pointed to ongoing Senate work, including the SAVE Act, as a competing priority.
However, he maintained that committees can handle multiple issues simultaneously. He urged the Senate Banking Committee to prioritize the CLARITY Act markup soon.
Banking Concerns and Stablecoin Rewards Debate
Cramer also addressed concerns raised by banks regarding stablecoin rewards, which French Hill says the CLARITY Act should ban to advance in the Senate. Senator Cramer noted that some lawmakers see loopholes allowing intermediaries to offer interest-like returns. These intermediaries include firms similar to PayPal.
He explained that banks argue such offerings create uneven competition. As a result, lawmakers may need to clarify language within related legislation like the GENIUS Act. However, Cramer stressed that adjustments should not delay broader progress.
He added that lawmakers must strike a balance acceptable to all sides. According to him, success may come when all stakeholders show equal dissatisfaction. This approach, he said, reflects a workable compromise.
Legislative Delays Impact Market Expectations
Meanwhile, last week, Senator Cynthia Lummis also noted the timing concerns in a separate Fox Business interview. She said the Senate Banking Committee aims for a CLARITY Act markup before or shortly after Easter. She added that delays deeper into the year could reduce passage chances.
According to Lummis, competing issues such as war funding and the SAVE Act have slowed progress. She urged colleagues to finalize proposals to move the process forward. Her comments align with Cramer’s call for urgency.
Market expectations have shifted alongside these delays. Polymarket data shows passage odds have slipped to 60% today from 61% yesterday. Additionally, as CoinGape reported earlier, Citigroup reduced Bitcoin and Ethereum price targets, citing delays tied to the CLARITY Act.
Source: Polymarket
However, as per Santiment, social data shows rising sentiment as the crypto industry and banks near a CLARITY Act deal. The firm said the crypto bill is trending widely due to expected institutional impact. The firm noted that clearer rules could increase investor confidence.
Source: Santiment
As per Santiment, today the Senate Banking Committee meeting happens with growing expectations of passage within 2 weeks. President Donald Trump called for the progress of the CLARITY Act a few days ago.
Source: https://coingape.com/senator-kevin-cramer-pushes-for-clarity-acts-markup-before-easter/
