The landmark CLARITY Act aimed at establishing a comprehensive federal framework for digital asset regulation has hit a significant four-way deadlock in Congress. Traditional banks, led by the American Bankers Association, strongly oppose provisions allowing stablecoin issuers to offer yield on dollar-pegged tokens, arguing this could trigger massive deposit migration. Meanwhile, DeFi platforms and crypto exchanges push for flexible rules permitting innovation. Previous White House-mediated proposals were rejected in March 2026, and while industry figures suggested a resolution was "very close" in early April, political realities and recess timing have intervened.
The Senate Banking Committee faces challenges due to these entrenched interests, despite the House passing its version in 2025. Separately, Nigeria's Central Bank announced on April 2, 2026, that KuCoin was selected as the only global exchange for its Virtual Asset Service Providers supervisory pilot program, marking structured oversight in Africa's largest crypto market.
