#Gate13周年现场直击 The U.S. Crypto Market Structure Bill May Be Delayed Until May for Review, Banking Lobbying Intensifies Divisions

Recently, things have heated up again in the U.S. If you follow the compliance process of the crypto market, this week is definitely a "life-and-death sprint." In simple terms, the so-called industry "Constitution" bill, the CLARITY Act, is this week’s decisive moment—whether it lives or dies.
1. Why is this week a "decisive moment"?
1. The current schedule is extremely tight. The Senate Banking Committee has a deadline this week: they must decide whether to advance the review by Friday. If they don’t get it done by this Friday (around April 24), it will be pushed to May or directly shelved.
2. The biggest variable now is that the Federal Reserve Chair nomination hearings have diverted attention. Senator Thom Tillis (a key supporter of the bill) is optimistic publicly, but he also left a backup plan, saying if it doesn’t work out, they might hold face-to-face negotiations over a "crypto celebration," which would obviously prolong the process.
2. Core conflict: Banks are anxious, the White House is angry
This game’s focus is very specific: can stablecoins pay interest?
1. The banking side (represented by the North Carolina Bankers Association): They are now very panicked. They previously reached a compromise (not allowing direct interest payments but permitting transaction rewards), but the banking groups feel it’s not enough. They are lobbying furiously, pressuring Senator Tillis to tighten restrictions. They fear stablecoins will steal bank deposits.
2. The White House (Patrick Witt): This White House crypto advisor directly criticized, saying banks are lobbying out of "greed and ignorance." The White House’s report is tough: banning stablecoin yields doesn’t really protect bank loans, but instead causes ordinary people to lose $800 million in benefits annually.
3. What’s the overall outlook?
The focus isn’t on the bill itself but on the underlying reshaping of interests:
1. "Behavior rewards" are the biggest common denominator: the current compromise is—no "passive income" from "lying around," but rewards can be earned through "doing work" (like trading, payments). This is good for platforms like Coinb, as they can innovate products (such as payment rebates) to retain users without directly challenging the "interest" regulatory line.
2. Banks are essentially "committing slow suicide": they want to legislate to block stablecoin yields, but this forces the crypto industry to improve product experience. If banks only focus on blocking rather than improving their services, deposits will still leave, and legislation is just a fig leaf.
3. Market impact: If the bill passes smoothly into the April 27 vote, it’s a huge positive, meaning regulatory uncertainty will be settled. If delayed until May, market confidence will be hurt because the time window for this Congress is really limited. Senator Lummis even warned that if it doesn’t pass now, we might have to wait until 2030.

In summary, besides the interest issue, there are also regulatory and moral clauses on DeFi (such as involving Trump family crypto businesses) to be tangled with. Overall, keep an eye on the U.S. Senate this week—any movement could trigger volatility in Bitcoin and altcoins. (This article does not constitute any investment advice)