WASHINGTON — White House crypto adviser Patrick Witt said the stablecoin-yield dispute blocking Senate progress on the CLARITY Act has reached a durable compromise. His comments come as lawmakers resumed market-structure negotiations on April 14.
Despite the shift in tone from Washington, market sentiment has diverged from political rhetoric. Polymarket odds for the bill's passage dropped from approximately 68% earlier this month to 54%.
Senator Thom Tillis is expected to circulate new text regarding stablecoin yields this week. The proposed language aims to allow activity-based rewards while preventing the passive, bank-like returns that financial institutions fear could trigger deposit flight.
Legislative Progress Meets Market Skepticism
Senator Bill Hagerty stated that the current work period should move the bill into the Senate Banking Committee. Cointelegraph reported on April 6 that Hagert expects a committee markup could occur as early as this month.
However, Bitcoin's recent climb to $74,262 has not bolstered political confidence. Traders appear to be discounting the news, waiting for public text and an official Banking Committee notice.
Senator Tim Scott told Fox Business that while the rewards issue could be resolved within two weeks, Republican alignment may take longer. Scott expressed hope that the legislative process concludes by summer 2026.
Unresolved edges regarding DeFi and ethics remain significant hurdles. The White House maintains that the GENIUS framework will foster a stablecoin ecosystem within the United States, yet industry players like Coinbase remain under scrutiny.
Market participants are watching for any signs that the economic impact on major exchanges could derail the final stages of negotiations. Currently, the Crypto Fear and Greed Index sits at 21.