Tether CEO Paolo Ardoino posted “clarity is coming” on X as negotiations around major U.S. crypto legislation concluded without a final bipartisan deal. Senators remain divided over ethics provisions tied to President Donald Trump’s crypto interests and language protecting non-custodial software developers under the Blockchain Regulatory Certainty Act. Stablecoin issuers and institutional crypto firms are watching Washington closely for the first serious attempt at a full U.S. crypto market structure framework.
Crypto Bill Talks Hit Last-Minute Roadblock
Ardoino’s post, shared on May 13, landed just as negotiations surrounding the CLARITY Act entered another tense phase ahead of the Senate Banking Committee markup. Specifically, he wrote:
“Clarity is coming.”
According to journalist Eleanor Terrett, bipartisan talks ended for the night of May 13 without a final agreement despite what negotiators described as progress on most parts of the bill. As Senator Cynthia Lummis said:
“Ultimately, we have agreement on 99% of the bill. I hope my colleagues across the aisle will work with me to get the remaining 1% resolved after we pass this bill out of committee.”
Democrats including Senators Adam Schiff and Ruben Gallego reportedly pushed for stricter ethics and conflict-of-interest provisions tied to the Trump family’s crypto businesses as a condition for supporting the legislation.
Another sticking point involved the Blockchain Regulatory Certainty Act (BRCA), which would prevent non-custodial developers from being treated as money transmitters under federal law.
Terrett reported on meaningful progress on ethics negotiations, but also said disagreements tied to BRCA changes ultimately stopped a deal from coming together before the committee vote.
Stablecoin Giants Watch Washington Closely
The legislation pertains directly to firms like Ardoino’s Tether, which remain at the center of the stablecoin market. USDT is still the world’s largest stablecoin by supply, and banks and exchanges continue expanding deeper into blockchain-based finance.
The latest Senate negotiations also show how crypto policy in Washington is increasingly colliding with broader political battles over ethics, financial oversight, and the future role of decentralized software.
Despite the stalled talks, industry participants still see momentum building around eventual regulatory clarity after years of uncertainty and enforcement-driven policy.
The outcome of the Banking Committee markup now carries extra weight for the crypto market because it could define the treatment of stablecoins, tokenized assets, decentralized finance (DeFi) platforms, and blockchain infrastructure under U.S. law for years ahead.
