On April 28, as revisions to the Clarity Act are expected to take place in May, the cryptocurrency industry is calculating how much time is left to pass comprehensive market structure legislation through a shrinking legislative window. "We have about 13 weeks left in the Senate, and we need to get some things done," said Ji Kim, CEO of the Crypto Council for Innovation, in an interview with Crypto In America, emphasizing what many in Washington see as the real deadline: getting the bill to President Trump’s desk before the August recess, when lawmakers will shift their focus to the midterm elections. Although Kim mentioned there are about 13 weeks remaining, the actual time window is tighter. Once the recess is factored in, the Senate effectively has only 9 to 10 working weeks to advance the bill, as legislators also have to deal with a busy agenda that includes the upcoming Foreign Intelligence Surveillance Act (FISA) deadline, initiating budget resolution mediation, and passing the Department of Homeland Security funding bill. However, first, the bill must pass through the Senate Banking Committee, where it has been stalled since January due to the failure to secure key industry support, delaying the initial revisions. The hoped-for April revisions are now out of reach, as Senator Thom Tillis (R-NC) requested more time from Committee Chairman Tim Scott (R-SC) to propose a compromise on stablecoin yields and incentives to the banking industry. "For me, the most important thing is not to rush the process, to hear from everyone, and to provide a rational basis for what we accept and do not accept," Tillis told reporters last week.
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