- Kevin Cramer urged Congress to advance the CLARITY Act before Easter to avoid delays.
- Stablecoin reward debates and banking concerns remain key obstacles in finalizing the bill.
- Legislative delays are affecting market sentiment and expectations around crypto regulation.
Senator Kevin Cramer urged Congress to move forward with the CLARITY Act markup before Easter, citing growing legislative pressure in Washington. Speaking in a Fox Business interview, he warned that delays could stall progress. He also stressed the need to address regulatory gaps and maintain U.S. positioning in digital asset oversight.
Clarity Act Timeline Tightens Ahead of Easter
Cramer said lawmakers must act quickly to define rules for digital assets. He highlighted the need to separate commodities from securities under federal oversight.
According to the interview, he warned that missing the Easter timeline could reduce the chances of passage. He noted that competing priorities later in the year may slow progress.
Cramer added that “time is not our friend” as Congress handles multiple legislative issues. He referenced the SAVE Act as one competing priority.
However, he said committees can address several matters at once. He urged the Senate Banking Committee to prioritize the CLARITY Act markup.
Banking Concerns And Stablecoin Rewards Debate
Cramer also addressed concerns from banks regarding stablecoin reward structures. Lawmakers have raised questions about potential loopholes in current proposals.
He said some intermediaries may offer interest-like returns through stablecoin products. These include firms operating models similar to PayPal.
As a result, lawmakers may revise language within related legislation, including the GENIUS Act. However, Cramer emphasized that changes should not delay overall progress.
He added that reaching an agreement may require compromise across stakeholders. He described a workable outcome as one where all sides accept trade-offs.
Legislative Delays Impact Market Expectations
Meanwhile, Cynthia Lummis also raised timing concerns in a separate Fox Business interview. She said the committee targets a markup before or shortly after Easter.
She noted that competing issues, including war funding and the SAVE Act, have slowed progress. However, she urged lawmakers to finalize proposals soon.
Market expectations have shifted alongside these delays. Polymarket data shows passage odds declined slightly to 60% from 61% a day earlier.
Additionally, Citigroup lowered Bitcoin and Ethereum price targets, citing delays tied to the CLARITY Act. However, according to Santiment, social data shows rising sentiment around the bill.
The firm reported that the legislation continues trending as expectations build for progress within two weeks.