This report was originally sent directly to clients of Galaxy Trading and Galaxy Asset Management on April 20, 2026. Trade or invest with Galaxy to receive the most timely research directly in your inbox.

Overview

With time starting to run out on the 119th Congress’s calendar, comprehensive crypto market structure legislation is nearing the endgame stage.

The CLARITY Act passed the House in July 2025 with strong bipartisan support (294-134) and has been the subject of intensive Senate negotiations since January. The Senate Banking, Housing, and Urban Affairs Committee (SBC) is expected to announce a markup hearing this week, likely for the last week of April. Three key issues remain unresolved, according to Chairman Tim Scott…