Senators are preparing to publish a revised draft of the CLARITY Act – the long-awaited cryptocurrency market structure bill – as early as this week, According to reports By Eleanor Teret of Crypto In America.
The timing comes amid the Easter holiday that runs until April 13, but Teret’s sources say lawmakers intend to unveil language resolving the politically sensitive dispute over stablecoin revenues and CLARITY Act rewards before members return to regular business.
Industry pushes back on CLARITY Act restrictions
The latest draft is said to aim to reach a compromise on how cryptocurrency platforms can offer rewards without causing deposits to flee from traditional banks.
As Bitcoin I mentioned Last week, the Broad Clarity Act would prohibit exchanges from offering returns “directly or indirectly” on stablecoins or on assets that function like bank deposits.
Lawmakers would still allow activity-based incentives such as loyalty points and promotions in the Clarity bill, while allocating regulators a one-year window to determine permissible incentives and creating anti-evasion rules to prevent workarounds.
This restrictive approach sparked a quick and visible reaction in the industry. Industry participants are coordinating a counterproposal to explain why targeted changes are needed to protect customers and keep rewards programs viable, said David Dong, global head of investment research at Coinbase.
However, a spokesperson for Senator Thom Tillis told Crypto In America that the text of the new CLARITY Act reflects ongoing conversations with industry groups, including banks.
Key unresolved topics that are expected to shape the final negotiations include: Decentralized finance According to Terrett, collateral (DeFi), token taxonomy, and real-world asset tokenization (RWA) rules.
New Crypto PAC in town
The legislative maneuvering has coincided with increased political regulation from within the cryptocurrency industry. Anchorage Digital and Chainlink (link) Announce A hybrid bipartisan political action committee (PAC), the Blockchain Leadership Fund, was formed on Monday, with support from members of the Digital Chamber.
According to a company statement, the new fund plans to participate in federal, state, and local competitions to support candidates and policymakers who favor durable, innovation-friendly digital asset policy. A spokesperson for Anchorage Digital stated:
The crypto policy is now being written and the companies that emerge and participate will help define the rules of the road; Those who do not inherit them. At Anchorage Digital, we have always believed that responsible innovation requires active engagement, which is why we are proud to support the Blockchain Leadership Fund at such a pivotal moment for the industry.
A Chainlink representative echoed this message, noting the unusual – but still fragile – clarity. Legislative moment facing the sector. “Market Structure Draft Law [CLARITY Act] “This is where the real complexity lives, and candidates who are prepared to work through that complexity deserve sustained, structured support from the industry,” the spokesperson said.
Chainlink added that its institutional partners are adopting blockchain infrastructure and that the Blockchain Leadership Fund will help ensure that the policy environment can scale this adoption.
Featured image from OpenArt, chart from TradingView.com
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