A fresh breakthrough on stablecoin rewards has given new life to the long-awaited CLARITY Act—but the path forward is still far from clear. According to Galaxy Research, major regulatory roadblocks remain, and time is quickly running out to get the bill across the finish line in 2026.
The recent progress came after a tentative agreement between U.S. lawmakers and the White House in March 2026. Senators Thom Tillis and Angela Alsobrooks worked alongside officials to resolve a key dispute around stablecoin rewards—an issue that had stalled the bill for months. Traditional financial institutions had raised concerns that offering rewards on stablecoins could pull deposits away from banks and into crypto platforms.
This compromise is being viewed as a meaningful step forward. White House crypto policy adviser Patrick Witt even described it as a “major milestone,” highlighting rare bipartisan cooperation in an otherwise divided regulatory environment.
But while this agreement removes one major obstacle, experts say the bigger picture is still complicated.
Alex Thorn, head of research at Galaxy Digital, cautions that the stablecoin debate is just one piece of a much larger puzzle. Several critical issues are still unresolved, including how decentralized finance (DeFi) will be regulated, what protections should be offered to developers, and how much authority the Securities and Exchange Commission (SEC) should have over digital assets.
These are not minor details—they are central to how the crypto industry will operate in the United States going forward. Without clear answers, the bill risks getting stuck once again.
Timing is another major concern. Thorn warned that the legislative window is closing fast. If the CLARITY Act does not pass through the Senate Banking Committee by the end of April, its chances of becoming law this year could drop sharply. With limited time left on the calendar, lawmakers are under pressure to act quickly.
The stakes are high. The CLARITY Act is widely seen as a cornerstone for establishing a comprehensive regulatory framework for cryptocurrencies in the U.S. A clear set of rules could provide much-needed certainty for investors, companies, and developers alike.
For now, the stablecoin agreement offers a glimmer of hope—but the toughest negotiations may still lie ahead.
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