The CLARITY Act Just Lost Its Last Blocker and Crypto Regulation Is Close

The push for crypto regulation in the US is entering a decisive phase. This comes after a key hurdle in the CLARITY Act negotiations was cleared on April 15. The update, shared by White House crypto advisor Patrick Witt, signals that lawmakers may finally be close to aligning on a broader market structure bill. With regulatory agencies already shifting their stance on digital assets like Bitcoin (BTC), attention is now on the Senate and a timeline.

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The Senate Has Until End of April or Crypto Regulation Waits Until 2028

Witt said recent talks have resolved several sticking points that had stalled progress for months. This is particularly around stablecoin-related concerns. While he did not detail every concession, he noted that issuers once seen as difficult are now largely settled. Witt added,

“All of these issues felt intractable and unsolvable at one point in time. So the fact that we’ve been able to close out a lot of them gives me confidence that we can close out these other ones, too.”

This comes as industry voices grow more vocal. Ripple CEO Brad Garlinghouse said the “window is open.” Through this, he highlighted that policy clarity is within reach after years of uncertainty tied to SEC and crypto enforcement.

The next step is a markup in the Senate Banking Committee. Lawmakers have until the end of April to move the bill forward. If that deadline slips, the legislative calendar becomes crowded with election priorities. This reduces the chances of a passage before the 2026 midterms.

A delay could further push meaningful crypto regulation out several years. Several analysts point to 2028 as the next realistic window.

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House Groundwork Already In Place

The House of Representatives passed the CLARITY Act in July 2025 with a 294-134 vote. This gave the bill a strong bipartisan foundation. The Senate process now focuses on refining key provisions rather than starting from scratch.

Outstanding issues include DeFi oversight, stablecoin yield rules, and ethics-related language tied to public offerings.

Even as lawmakers debate, regulators have taken a significant step. On March 17, the SEC and CFTC jointly clarified that major tokens like Bitcoin, Ethereum (ETH), Solana (SOL), and XRP, among others, should be treated as commodities in most cases.

The guidance also introduced a classification framework covering commodities, stablecoins, digital securities, and other categories. SEC Chair Paul Atkins said the move was meant to bring clarity after years of inconsistent interpretation. He added,

“After more than a decade of uncertainty, this interpretation will provide market participants with a clear understanding of how the Commission treats crypto assets under federal securities laws. This is what regulatory agencies are supposed to do: draw clear lines in clear terms.”

Market Outlook Remains Cautious

Despite recent progress, there is still hesitation. Senator Thom Tillis has described the current outlook as “guardedly optimistic.” He is pointing to the procedural steps still required.

Prediction markets reflect that uncertainty. Polymarket currently places the odds of the bill being signed at around 60%. While this suggests confidence, it does not reflect certainty.

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