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The CLARITY Act on stablecoin income may be postponed for four years, according to Cynthia Lummis., 2026/04/13 15:07:49
Republican Senator from Wyoming, Cynthia Lummis, has urged Congress to swiftly pass the bill that allocates authority for regulating the digital asset market and the payment of interest on stablecoin yields. Lummis fears that if action is not taken soon, the CLARITY Act will not be enacted until at least 2030.
The CLARITY bill is anticipated to be reviewed by the U.S. Senate Banking Committee at the end of April. If the deadline is missed, legislative priorities will shift towards election campaigns, and the bill may receive little attention ahead of the November 2026 midterm elections.
The bill has successfully passed the House of Representatives but still requires Senate approval and the President’s signature. Lummis, who is advocating for CLARITY, plans to leave her Senate position in January 2027 and does not intend to run for re-election. If Congress does not take proactive measures in the coming months, the implementation of CLARITY will be significantly delayed, Lummis laments.
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The current version of CLARITY prohibits the payment of interest to stablecoin holders. This has led to dissatisfaction among crypto companies and holders of such tokens. This specific provision has stalled the bill’s progress.
The document also includes stricter disclosure requirements for token issuers.
Additionally, the bill proposes to divide regulatory authority over the crypto market between two agencies. It is expected that the majority of digital assets will fall under the jurisdiction of the U.S. Commodity Futures Trading Commission (CFTC) as commodities. Tokenized securities will remain regulated by the U.S. Securities and Exchange Commission (SEC).
Last year, Lummis called on Congress to clarify the rules regarding the use of meme coins, which she believes do not provide any societal benefit. The senator supported the establishment of a strategic government reserve of bitcoins, describing it as the only viable solution to address the growing U.S. national debt.
