US crypto bill faces May vote amid political hurdles

A U.S. crypto market structure bill, known as CLARITY, is being pushed toward a Senate Banking Committee vote in mid-May, The Block reported. According to the outlet, Senator Thom Tillis has requested to advance the schedule, speeding up the legislative process, but disagreements persist over the inclusion of ethics regulations. Key points of contention include stablecoin reward structures, DeFi regulation, and the allocation of supervisory authority. The report also noted that the crypto business interests of President Donald Trump's family have become a political issue, increasing opposition from the Democratic Party. Passing the bill in the Senate requires 60 votes, making bipartisan agreement essential, but the possibility of some Republican defections has also been raised. An industry insider assessed the bill's chances of passing as being between 15% and 50%.