While the CLARITY Act has garnered unprecedented institutional backing—including support from the White House, Coinbase CEO Brian Armstrong, and Senator Cynthia Lummis—the XRP community is divided on whether the legislative momentum represents a genuine catalyst or a "sell-the-news" trap. Reddit and

A JPMorgan report says legislative negotiations on the U.S. 《CLARITY Act》 are nearing the end, with contentious issues reduced to just 2 to 3 items. The main focus is on DeFi regulation and token classification. The bill aims to establish a regulatory framework for cryptocurrencies, covering issues such as stablecoin rules and the division of regulatory authority. Discussions about stablecoin yield are trending in a more optimistic direction, but the legislative timeline remains uncertain.

Moody’s Analytics said that stablecoins will not replace traditional bank deposits on a large scale in the near term, mainly because the United States’ payment infrastructure is mature and regulatory prohibitions limit their use. But as the stablecoin market capitalization rises, it could over the long term drive outflows from bank deposits and reduce banks’ ability to create credit. In addition, regulatory controversy around the CLARITY Act further increases uncertainty in the market.

Lawmakers are delaying the CLARITY Act due to ongoing negotiations on stablecoin provisions, with timing uncertain and potential markup pushed to late April or early May. Kevin Warsh’s financial disclosures add complexity to regulatory discussions.

Tennessee's “Strategic Bitcoin Reserve Act” (SB 2639) will be heard by the Senate Finance, Revenue and Appropriations Committee on April 21 (next Tuesday). The bill was introduced by Senator Kelly Roberts, has passed the Senate Business and Labor Committee, and now moves to the Finance Committee responsible for overseeing tax and spending measures. If it passes, the Tennessee State Treasurer may allocate up to 10% of eligible state funds to bitcoin (BTC).

Ripple CEO Brad Garlinghouse has maintained a positive outlook on XRP and regulatory developments throughout 2026, emphasizing institutional interest and the anticipated passage of the CLARITY Act despite XRP's price decline. His public statements highlight momentum in Ripple's business and project confidence in the crypto market's future.

The CLARITY Act was not included in the April 20 agenda for consideration by Tim Scott, Chairman of the Senate Banking Committee. Senator Tom Tillis is set to release the latest draft, which includes compromise provisions related to stablecoin yield rates. Coinbase has switched to support, while the banking group still opposes the measure. The bill must pass multiple steps before it can become law.

Bank of England Governor Andrew Bailey said at an IIF event that the effective functioning of stablecoins depends on users’ confidence in full redemption mechanisms, calling for the development of international standards. The United States has meanwhile released the GENIUS Act, requiring stablecoin issuers to meet compliance requirements. In South Korea, Circle’s CEO said there are no plans to launch a won-pegged stablecoin, and that the company is currently watching local legislative debates.

A report from the Cato Institute states that the United States requires reporting capital gains tax for every Bitcoin transaction, which would increase the reporting burden. The report recommends either eliminating the capital gains tax or raising the exemption threshold in the “Virtual Currency Tax Fairness Act” to about $80k to ease the tax burden on small transactions.

On April 14, 2026, the State Bank of Pakistan lifted its crypto-assets banking ban that has been in place since 2018, officially kicking off the Virtual Assets Act 2026. Banks may open accounts for licensed virtual asset service providers, but must establish a segregation-of-funds mechanism to ensure that customers’ funds are not affected. This policy change responds to domestic demand and demonstrates Pakistan’s growing role on the international stage.