Senate Might Finally Pretend to Care About Crypto

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Key Highlights

  • Bill Hagerty casually hinted that the Senate Banking Committee might actually touch crypto legislation next week. Shock.
  • He optimistically predicts committee approval in April, even though, you know, nothing’s really settled.
  • The bill is still tangled in stablecoin drama, tokenized equity chaos, and ethics eyebrow-raising.

US Senator Bill Hagerty, clearly trying to be the hero of the crypto world, suggested the Senate Banking Committee could start moving the perpetually delayed crypto market structure legislation next week. This came out at Vanderbilt University’s Digital Assets and Emerging Tech Policy Summit on April 6, which sounds fancy, but probably had free biscuits.

“We will be in a position, I hope, to bring all of this together very soon,” Hagerty said, in the kind of vague political optimism that would make a fortune teller blush. “On the banking committee side, I think we’re very close… so over the next several weeks we should have this into the banking committee.” Translation: maybe, if Mercury isn’t in retrograde.

He added, with all the confidence of someone playing Jenga with government paperwork: “There’re several issues still outstanding… none insurmountable. I believe in April we’ll have it out of the banking committee. There’s still a lot more work to do.” Ah, politics, the art of saying nothing with flair.

Senate Banking signals progress after months of delays

The Senate Banking Committee has been the human equivalent of a slow-loading YouTube video while the House passed the Digital Asset Market Clarity Act of 2025 in a 294-134 vote. This law is supposed to decide if digital assets get the SEC’s watchful eye or if they’re just commodities to be mildly monitored by the CFTC-basically, like deciding if your dog should be walked or just ignored in the yard.

The Senate Agriculture Committee already did their homework back in January, but the Banking Committee is still twiddling thumbs, leaving the whole market structure package in legislative limbo while crypto investors and lobbyists nervously sip their coffee.

Stablecoin yield fight still looms over the bill

The drama peaks around stablecoin yield, tokenized equities, and ethics-because what’s politics without a sprinkle of scandal? Apparently, the Senate draft bars crypto firms from paying interest for simply holding stablecoins, but rewards for doing literally anything else are fine. Everyone’s mad, everyone’s negotiating, and no one’s sleeping.

This makes Hagerty’s vague optimism feel like a headline from a motivational poster. Coinbase’s legal chief, Paul Grewal, also added that lawmakers are “very close” to figuring out who gets what in this cryptic yield puzzle.

And, of course, politics enters the mix: “We’re going into the midterms… if we get this done in April, we can check it off the list before the midterms,” said Hagerty. Because nothing screams urgency like calendar deadlines.

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2026-04-07 00:04