CoinDesk reported that while the passage of the U.S. cryptocurrency market structure bill (Clarity Act) by April has virtually fallen through, the bill could maintain its momentum if a Senate committee hearing is held in May. A Senate aide told CoinDesk in an interview, "The legislative schedule is becoming tight, but a delay of a few weeks is not fatal. This can be seen as Republican Senator Thom Tillis securing time to coordinate banking sector concerns related to stablecoin interest. Furthermore, most issues related to DeFi protection have reached an agreement. There are no major obstacles remaining in the committee approval process. The problem is the schedule. From August, the Senate will virtually switch to an election system and prepare for the November midterm elections. Until then, legislative activity is only possible for about 12 weeks. During this period, major issues such as the Department of Homeland Security budget and the war in Iran overlap, making the conditions for processing the bill not easy." Earlier, Senator Tillis stated that more time was needed to finalize a compromise with the cryptocurrency industry and that the bill could be pushed forward in May.
