Gate News message, April 23 — Investment bank TD Cowen has identified five major obstacles facing the passage of the Clarity Act, beyond the stablecoin yield issue, according to The Block.
The first obstacle is that the U.S. Commodity Futures Trading Commission (CFTC) currently has only one commissioner, with the nomination and confirmation process for additional commissioners potentially taking months, while the bill’s deadline is in late July. The second is the regulatory question around prediction markets; including them in the bill could cause Democrats to withdraw support. The third is the continued attention surrounding the World Liberty Financial crypto project, which has ties to the Trump family, potentially making it difficult for Democrats to back the legislation. The fourth is that Iran has reportedly been discussing requiring ships to pay tolls for passage through the Strait of Hormuz in cryptocurrency, which could increase pressure on anti-money laundering provisions. The fifth is that the Credit Card Competition Act could potentially be incorporated into the crypto bill.
Senator Tillis indicated that the Senate Banking Committee could hold a vote on the bill as early as May, with the stablecoin yield compromise text potentially being released before the review. Galaxy Digital estimates the probability of the bill passing this year at approximately 50%.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
SEC Faces Mounting Pressure to Turn DeFi Guidance Into Formal Rules
Industry participants are urging the U.S. Securities and Exchange Commission (SEC) to formalize its crypto guidance on decentralized tools, arguing clearer rules would reduce uncertainty and better align oversight with blockchain infrastructure.
Key Takeaways:
Over 30 crypto industry participants
Coinpedia2h ago
The UK Financial Conduct Authority launches its first crackdown on illegal peer-to-peer cryptocurrency trading
The FCA’s first wave of enforcement actions, working together with HMRC and the South West Regional Organised Crime Unit, raided multiple London locations suspected of running unregistered P2P cryptocurrency trading venues, issuing stop orders and bringing the matters into a criminal investigation. Experts say such unregistered platforms are illegal and carry high risk, and regulators will strengthen oversight gaps with regulations such as those on anti-money laundering. The UK is gradually building a cryptocurrency regulatory framework, with full implementation expected by 2027; in 2026, a registration application channel will be opened, and investors should carefully assess risks.
ChainNewsAbmedia8h ago
Hyperliquid Launches Policy Center in U.S. to Advance Decentralized Derivatives Regulation
Gate News message, April 22 — Hyperliquid has established the Hyperliquid Policy Center (HPC) in the United States, funded by the Hyper Foundation. The initiative aims to secure legal clarity and protections for U.S. users and developers, with a focus on on-chain perpetual futures contracts.
HPC wi
GateNews10h ago
Major CEX Urges U.S. Congress to Implement Crypto Tax Exemption Threshold and Allow Staking Reward Tax Timing Choice
Major CEX urges Congress to set a minimum tax-exemption for crypto transactions and offer flexible staking-report timing, citing IRS forms show most trades under thresholds and heavy reporting burden.
The article reports that a major centralized exchange is urging U.S. Congress to establish inflation-adjusted minimum exemption thresholds for crypto transactions and to allow taxpayers to choose when to report staking rewards. It cites CoinDesk data showing 56 million crypto tax forms filed for 2025, with most transactions valued under $50, illustrating the administrative burden of current reporting rules and the need for policy changes.
GateNews12h ago
North Carolina Passes Digital Asset Law Allowing Banks to Custody Crypto
Gate News message, April 22 — North Carolina has officially introduced House Bill 1029, the Digital Asset and Stablecoin Act, marking the state's entry into crypto regulation. The bill, developed following recommendations from a dedicated blockchain committee, aims to integrate digital assets into t
GateNews13h ago
