The CLARITY Act Could Finally Define Crypto in the U.S. (If It Clears Congress)

The CLARITY Act passed the House 294-134 and is awaiting a Senate Banking Committee markup expected mid-April 2026. The entire bill is stalled over one issue: whether stablecoin holders should earn interest on their balances. Banks spent $56M lobbying against it. Crypto firms raised $200M for midterm campaigns. Coinbase's CLO just said a deal is 48 hours away. If it doesn't pass before midterms consume the Senate calendar around May-June, we're looking at another year or more of regulatory limbo. Meanwhile, Ethereum's Glamsterdam upgrade targeting June could trigger a 25-35% pre-upgrade rally based on historical patterns. The clock is ticking on both fronts.