Senator Bernie Moreno Eyes April Deadline for US CLARITY Act Passage
Following encouraging statements from US Senator Bernie Moreno, prediction market Polymarket witnessed a brief surge to 90% probability for the US CLARITY Act's 2026 passage.
A pivotal piece of legislation designed to establish clearer regulatory guidelines for the US cryptocurrency sector, known as the US CLARITY Act, may successfully navigate Congress within approximately six weeks, according to pro-cryptocurrency US Senator Bernie Moreno.
"Hopefully by April," Moreno stated during a CNBC interview conducted at US President Donald Trump's Mar-a-Lago estate located in Florida on Wednesday.
Brian Armstrong, the CEO of Coinbase, participated in the interview alongside Moreno, noting that they were meeting with delegates from the cryptocurrency sector, banking institutions, and US Congress members at the World Liberty Financial (WLF) crypto forum to develop a comprehensive solution regarding market structure.
Moreno indicates "A path forward" has emerged
"One of the big issues that did come up in the past was this idea of stablecoins on rewards," Armstrong said. Concerns had been previously voiced by the banking sector that permitting stablecoin yields might weaken conventional banking operations and redirect deposits along with interest revenue away from traditional banks.
Despite Armstrong having expressed concerns regarding the draft legislation and retracting his backing for the CLARITY Act in January, he indicated there is "now a path forward, where we can get a win-win-win outcome here."
"A win for the crypto industry, a win for the banks, and a win for the American consumer to get President Trump's crypto agenda through to the finish line, so we can make America the crypto capital of the world," Armstrong said.
The Coinbase chief explained that his cryptocurrency exchange had been unable to endorse the bill previously due to clauses that prohibit interest-bearing stablecoins and designate the US Securities and Exchange Commission as the principal regulatory authority over the crypto industry. Sources indicated that the White House expressed disappointment following Coinbase's choice to retract its endorsement, characterizing the action as a "unilateral" decision that caught administration officials off guard.
Moreno acknowledged that the postponement results from "getting hung up" on the stablecoin rewards issue, which he believes "shouldn't be part of this equation."
The probability metrics on Polymarket, a cryptocurrency prediction platform, regarding the US CLARITY Act's passage in 2026 temporarily jumped to 90% on Wednesday before declining to 72% at the time of publication.
Moreno rejects notion of a Democrat-led midterm election
Separately, Moreno rejected the notion that a Democratic takeover of Congress might jeopardize the bill when questioned about the possibility. "The house isn't going to go Democrat, and neither is the Senate," Moreno said.
"The American people are sick and tired of open borders; that is why we got elected. They were sick and tired of high inflation, and they were sick and tired of an out-of-control government," he added.
On Dec. 19, David Sacks, the White House crypto and AI czar, expressed robust confidence that the legislation would achieve passage early this year.
"We are closer than ever to passing the landmark crypto market structure legislation that President Trump has called for. We look forward to finishing the job in January," Sacks said at the time.