‘Last Chance’: US Crypto Policy Hits Critical Deadline, Senator Says

bitcoinistPublished on 2026-04-12Last updated on 2026-04-12

Abstract

US Senator Cynthia Lummis has warned that the current legislative session is the "last chance until at least 2030" to pass the CLARITY Act, a key piece of market-structure legislation for digital assets. The bill, which aims to provide clear regulatory rules for the crypto industry, faces a critical deadline as November midterm elections threaten to shift congressional priorities. Industry leaders, including Coinbase's Paul Grewal and Brian Armstrong, and a16z Crypto's Chris Dixon, are pushing for its passage, arguing that regulatory clarity will boost innovation and consumer protection. However, a major obstacle remains: a dispute over how to handle stablecoin yield. Despite growing support from companies and some regulators, this unresolved issue could prevent the bill from advancing. The act is seen as a test of Washington's ability to establish crypto regulations before the political window closes.

Coinbase chief legal officer Paul Grewal said the CLARITY Act could be nearing a markup hearing in the Senate Banking Committee, but he tied that progress to one unresolved issue: the dispute over crypto and stablecoin yield.

That came as the broader push for the bill picked up new urgency from lawmakers and industry figures who fear the window for action is closing fast.

Deadline Pressure Builds

US Senator Cynthia Lummis said the country may not get another serious shot at the bill before 2030.

In a post on X on Friday, she said this was the “last chance” to pass the CLARITY Act until at least that year and warned against letting the country’s financial future slip away.

This is our last chance to pass the Clarity Act until at least 2030. We can’t afford to surrender America’s financial future.

— Senator Cynthia Lummis (@SenLummis) April 10, 2026

Her warning landed at a sensitive moment. Industry participants have grown more uneasy about the bill’s prospects this year, with November midterm elections threatening to shift congressional priorities and slow work on crypto legislation.

Lummis’ comments framed the fight as one that cannot sit on the shelf much longer.

David Sacks, the former White House AI and crypto czar, echoed that view a day earlier. He said Senate Banking, followed by the full Senate, should pass market-structure legislation and said he believes US President Donald Trump would sign it into law.

The GENIUS Act, signed by President Trump last year, established U.S. leadership on stablecoins.

The CLARITY Act, also known as market structure legislation, would do the same for all other digital assets by providing clear rules of the road.

Secretary Bessent is right: the... https://t.co/rBkE9b5Usq

— David Sacks (@DavidSacks) April 9, 2026

Industry Push Gathers Steam

The pressure is not coming from lawmakers alone. Chris Dixon, a16z Crypto’s managing partner, said rules that are clearly defined help both consumers and entrepreneurs.

That line has become a common argument inside the industry, where many firms say clearer oversight would help the US pull in more innovation and more retail demand for crypto assets.

Total crypto market cap currently at $2.4 trillion. Chart: TradingView

That view has spread across different corners of the sector. Immutable founder Robbie Ferguson said on April 3 that the CLARITY Act could make the past decade of gaming growth look small by comparison.

Coinbase CEO Brian Armstrong also shifted his tone on Friday, saying it was time for the bill to move after months of delays.

Stablecoin Fight Still Looms

Even with that momentum, a key problem remains. Grewal said on April 2 that the bill may be close to a Senate Banking Committee markup, but he also said the path forward depends on agreement over stablecoin yield.

That issue has kept the legislation from moving cleanly, even as support has built among companies and some regulators.

Regulators are now adding their voices too. SEC Chairman Paul Atkins said the time had come for Congress to move market-structure legislation to Trump’s desk and to protect the system from what he called rogue regulators.

The CLARITY Act has since become a test of whether Washington can settle crypto rules before the political calendar closes in.

Featured image from Unsplash, chart from TradingView

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