Top crypto news on Wednesday centers on the CLARITY Act and what one report described as a two-week deadline, but the firmer signal is that Senate Banking still has not restarted formal consideration. That leaves the market-structure bill stalled while the fight over stablecoin yield spills into live DeFi exposure such as Ethena.
Why the Reported CLARITY Deadline Matters
H.R. 3633, the Digital Asset Market Clarity Act of 2025, cleared the House and was referred to the Senate Committee on Banking, Housing, and Urban Affairs on September 18, 2025, but the committee page for its planned January 15, 2026 executive session now shows the meeting as POSTPONED.
A single CryptoSlate report framed the next two weeks as decisive, but no Senate Banking notice or published floor schedule in the research record establishes a formal deadline.
What is verified is the bottleneck itself: with the bill still sitting in committee on Congress.gov and the markup page still marked postponed, exchanges, issuers, and DeFi teams remain without the statute that would separate crypto market structure from case-by-case agency interpretation.
Senator Cynthia Lummis escalated the politics in an April 10, 2026 post.
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 2030 warning shows how supporters are selling urgency, but it is still a political argument rather than an official Senate timetable.
How Senate Gridlock Is Narrowing to Stablecoin Yield
The most concrete policy fight is stablecoin yield. An April 8, 2026 White House CEA study estimated that eliminating yield would raise bank lending by $2.1 billion, or just 0.02%, while imposing an $800 million net welfare cost.
The same study said community banks would capture 24% of the added lending, or about $500 million. Those figures are why the argument over a broad ban has intensified, and they are central to our earlier look at the White House study challenging the stablecoin yield ban.
Community banks are still pressing the opposite case. On April 13, 2026, ICBA urged Congress to preserve a prohibition on interest or yield for payment stablecoins, showing that organized banking-sector pressure remains active inside the CLARITY debate.
“failing to extend the prohibition of yield and interest on payment stablecoins would severely damage the locally based economic growth that community banks support”
Rebeca Romero Rainey via ICBA
The SEC has also signaled that legislation would fit with its current approach. In a March 17, 2026 release, the agency said its crypto interpretation “complements Congressional endeavors to codify a comprehensive market structure framework into statute,” and Chair Paul Atkins said he looked forward to implementing bipartisan market-structure legislation.
Why Ethena Is a Useful Market Watch for the Debate
Ethena is a practical way to track how this policy argument maps onto crypto markets. On CoinGecko, ENA traded near $0.09828 with a market cap of about $860.6 million.
Its DefiLlama dashboard showed roughly $6.65 billion in total value locked, which is why a Washington fight over stablecoin yield is not abstract for the protocol.
Set against the White House estimate of $2.1 billion in added bank lending from a ban, a protocol carrying about $6.65 billion in locked capital shows why this Senate fight is really about where yield demand is allowed to live.
Other Top Crypto News to Watch Now
The broader readthrough is that regulatory progress is still splitting by venue. While Washington remains stuck on CLARITY, OKX Europe’s regulated X-Perps launch shows new crypto products can still reach market where the rulebook is already clearer.
The same theme is surfacing in event coverage. Paris Blockchain Week 2026 has kept market structure and institutional access near the center of the conversation, which is the same gap Senate Banking has not yet closed in the United States.
Until Senate Banking replaces its January 15, 2026 session with a new one, the verified state of play is unchanged: the House-passed bill is waiting, the White House and SEC are leaning toward a statutory framework, and bank groups are still lobbying hard against stablecoin yield.
Disclaimer: This article is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency and digital asset markets carry significant risk. Always do your own research before making decisions.
