The US Senate Banking Committee announced that the Clarity Act will not be considered in April.

The US Senate is again postponing consideration of the Clarity Act, a cryptocurrency market bill. Senator Thom Tillis, a key negotiator on the Senate Banking Committee, told reporters that he believes the committee will not hold hearings to amend the bill or vote on it in April, The Block reports.

The Clarity Act is a bill regulating cryptocurrency circulation in the United States. It introduces a clear distinction between "digital commodities" and "securities" for digital assets, placing them under the control of different regulators (CFTC or SEC).

US President Donald Trump supported the bill and set a deadline for its passage for the summer of 2025. However, members of Congress are still unable to agree on the document. Banks fear competition from stablecoins, so the US Senate Banking Committee is calling for the Clarity Act to limit the yield on such tokens. Crypto companies oppose the restrictions.

"It's crucial not to rush things, to listen to everyone, and to provide them with rational justification for the things we do adopt," Punchbowl News quotes Tillis as saying. The senator estimates the bill could be considered in May.

A week ago, Tillis said a viable version of the bill could be published "as early as this week." But a compromise was never reached.

In March, Trump claimed that bankers were hindering US leadership in the crypto industry by undermining the Genius Act, the stablecoin legislation he signed last year, and delaying passage of the Clarity Act, the market structure law. He urged lawmakers to pass the legislation quickly and advised banks to "make a deal" with the crypto industry.

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The bill passed the House of Representatives almost a year ago, and was approved by the Senate Agriculture Committee earlier this year. If the bill passes the Senate Banking Committee, it will need to be combined with the version approved by the Senate Agriculture Committee and brought to a vote in the Senate, after which it will be reconciled with the House.

If the bill is not approved in the US by mid-May, it will be a major setback for the entire cryptocurrency market, analyst Anatoly Radchenko previously noted. He explained this by saying that after the "summer holidays" there will be midterm congressional elections, which could result in Republicans losing their majority, while Democrats, known for their support of the traditional banking system, will prevent the passage of a version of the Clarity Act that is inconvenient for them.