The U.S. Cryptocurrency Market Structure Act may be delayed until May for review, with banking industry lobbying intensifying disagreements.

ME News Report, April 20 (UTC+8), the U.S. “CLARITY Act” enters a critical negotiation phase this week. Whether it will receive long-awaited committee review in April or be delayed until May depends on recent developments. The Senate Banking Committee will focus on the hearing for Federal Reserve Chair nominee Kevin Woorh early in the week. Afterwards, the committee must decide by Friday whether to notify for review of the bill, so that a vote can be held during the week of April 27. Banking groups, led by the North Carolina Bankers Association, are lobbying against the bill’s provisions on stablecoin yield restrictions, urging members to call Senator Thom Tillis’s office to request amendments. It is also reported that industry groups are reaching out to other committee members. After over two months of negotiations, crypto companies and banks reached a compromise at the end of last month, with the crypto industry generally satisfied. However, after the White House Economic Advisory Committee report downplayed the risks of stablecoin yields to the banking system, calls for amendments from banks have increased. Patrick Witt, Executive Director of the White House Crypto Committee, criticized banks on X platform for “further lobbying out of greed or ignorance.” Senator Tillis proposed a face-to-face “Crypto Carnival” meeting, but this could extend the timeline. He emphasized that issues still need to be negotiated but expressed optimism about scheduling review in the coming weeks. Besides yield issues, the bill also needs to address moral and DeFi-related provisions. This week’s progress will determine the fate of the bill, with markets closely watching. (Source: ChainCatcher)