Bybit (@Bybit_Official) has led an $8 million Series A financing round in Malaysian cryptocurrency exchange Hata, after previously participating in the company's $4.2 million seed raise. Hata said the proceeds will be used to improve liquidity and grow its user base, while supporting the launch of new digital asset products. The exchange operates in Malaysia under dual licenses.

The U.S. Senate Banking Committee had aimed to vote on the Clarity Act—a sweeping cryptocurrency market-structure bill—by the end of April. Banking-industry lobbying is now pushing the schedule into May, increasing the risk that broader election-year politics could freeze progress and force digital-asset regulation into the next Congress. On April 14, Committee Chair Tim Scott said on Fox Business that work may not wrap up in April, pointing to three unresolved items: rules around stablecoin yields, remaining DeFi-related language, and securing support from all Republican senators on the committee. Under committee procedure, a vote during the week of April 27 would require a notice of consideration no later than April 25. The panel’s calendar is also constrained by an April 22 confirmation hearing for Kevin Warsh, President Trump’s nominee for Federal Reserve Chair. Senator Bernie Moreno warned that if the bill does not reach a full Senate vote before May, the midterm election cycle will make major legislation politically difficult, potentially delaying digital-asset rules until the next Congress. At the center of the dispute is whether stablecoin issuers should be allowed to pay yield to holders. After more than two months of talks, Republican Senator Thom Tillis and Democratic Senator Angela Alsobrooks reached a late-March compromise: ban "passive" yield earned simply by holding stablecoins, while allowing rewards tied to onchain activity such as payments and transfers. The crypto industry has largely accepted the framework, with no public pushback. Crypto In America reported the compromise text was not released publicly and was instead shared privately with bank and crypto representatives. Banking groups initially responded ambiguously, but opposition intensified after the White House Council of Economic Advisers (CEA) published an April 8 report arguing stablecoin yields pose limited risk to the banking system. Punchbowl News reported that the North Carolina Bankers Association mobilized member banks to call Tillis’s office, and that banking trade groups broadened lobbying to other members of the committee beyond Tillis and Alsobrooks. Tillis has signaled openness to bank concerns, proposing a "crypto palooza" session last week to bring bank and crypto experts together in person, though such talks would further slow the process. On April 17, Tillis said he would not release the compromise text, citing uncertainty around the markup timeline. Patrick Witt, executive director of the White House Crypto Commission, criticized the banking industry’s continued lobbying on X: "It’s hard to interpret further lobbying as anything other than greed or ignorance." A source familiar with the discussions told Eleanor Terrett: "Small banks across the country are not being well served by Washington trade associations. The banking lobby can accept this outcome and curb deposit outflows, or they can sabotage their own impending victory and end up facing the status quo." CEA numbers: a 0.02% impact Key ammunition in the debate is the CEA’s April 8, 21-page analysis. The report estimates that a full ban on stablecoin yields would lift total bank lending by about $2.1 billion—roughly 0.02% of outstanding loans. For community banks seen as most exposed to deposit outflows, the incremental lending capacity would be about $500 million, a 0.026% increase. The CEA also estimates the ban would impose a net cost of about $800 million on consumers. The thrust of the report: claims that stablecoin yields threaten deposit bases are not supported by the data. Terrett reported that the American Bankers Association (ABA) publicly criticized the CEA’s stablecoin analysis, calling its approach misguided and arguing it missed deeper policy risks. The ABA warned that permitting yield could accelerate deposit outflows from community banks, raise funding costs, and tighten local credit. It also argued the CEA’s focus on the effects of a yield ban creates a false sense of security while sidestepping scenarios such as rapid scaling of interest-bearing payment stablecoins. The ABA has previously warned stablecoin yields could drive up to $6.6 trillion in deposit outflows. Two other sticking points: DeFi and ethics language Stablecoin yield is the most visible dispute, but Scott has highlighted two additional hurdles. DeFi provisions remain under negotiation. Democratic senators, citing recent security incidents—including the theft of roughly $290 million from Kelp DAO in April and $285 million from Drift Protocol—are pressing for tougher anti-money laundering and sanctions-compliance language, especially for decentralized protocols with strong anonymity features. Scott said DeFi disagreements could be resolved within two weeks, though that timeline depends on the stablecoin-yield fight not dragging on. Ethics provisions are also contentious. Democrats want restrictions preventing senior government officials from personally benefiting from crypto assets while in office. The issue is particularly sensitive amid controversy involving the World Liberty Financial (WLFI) project linked to the Trump family. Republicans argue some proposals are too broad and could be weaponized politically. A narrowing legislative runway Before becoming law, the Clarity Act still faces multiple steps: Banking Committee review and vote, a 60-vote threshold in the full Senate, reconciliation with the Agriculture Committee’s version, alignment with the House-passed version approved in July 2025, and the president’s signature. With the midterm cycle approaching, each stage compresses the window. The Clarity Act is positioned as the first comprehensive U.S. crypto market-structure framework, intended to clarify SEC and CFTC jurisdiction over digital assets and set clearer rules for token classification, exchange registration, and custody compliance. The House version passed in July 2025, and the Senate Banking Committee’s pace will determine whether the bill can be enacted this session. Ripple CEO Brad Garlinghouse had previously expected finalization in April, later shifting his outlook to the end of May. After the Warsh hearing, whether the committee issues a markup notice by Friday will signal whether consideration can begin in late April or slips until after the Senate returns from its mid-May recess. Further slippage would leave limited time to clear the remaining hurdles before election-year politics takes over.

The U.S. Senate Banking Committee is no longer on track to vote on the Clarity Act—a sweeping crypto market-structure bill—by the end of April, as aggressive lobbying by banking trade groups pushes the timeline into May. Committee Chair Tim Scott said April 14 on Fox Business that the panel may not finish work this month, pointing to three unresolved areas: rules on stablecoin yields, still-in-flux DeFi language, and lining up support from every Republican on the committee. Senate procedure tightens the calendar: to hold a vote during the week of April 27, the committee would need to publish its notice of consideration by April 25. The committee's schedule is also set to be dominated April 22 by the confirmation hearing for Kevin Warsh, President Trump's pick for Federal Reserve chair. Sen. Bernie Moreno warned that if the bill does not reach the full Senate floor before May, the midterm election cycle could make major legislation politically untouchable, potentially pushing digital asset regulation into the next Congress. Stablecoin yields: the flashpoint that re-ignited At the center of the Clarity Act fight is whether stablecoin issuers should be allowed to pay yield to holders. After more than two months of talks, Sen. Thom Tillis (R-NC) and Sen. Angela Alsobrooks (D-MD) reached a late-March compromise: ban "passive" yield earned simply by holding stablecoins, while allowing rewards tied to onchain activity such as payments and transfers. The crypto industry has largely accepted that framework, with no major public opposition. According to Crypto In America, the compromise text was not released publicly and was instead shared privately with representatives from banks and the crypto industry. Bank feedback was initially noncommittal, but resistance hardened after the White House Council of Economic Advisers (CEA) issued an April 8 report minimizing the impact of stablecoin yields on the banking system. Punchbowl News reported that the North Carolina Bankers Association organized member banks to call Tillis's office en masse, and that banking trade groups widened their lobbying to other members of the Banking Committee beyond Tillis and Alsobrooks. Tillis has signaled openness to the industry's concerns, recently floating a "crypto palooza" to bring banking and crypto experts together for face-to-face negotiations—an idea that would further slow the process. On April 17, Tillis said he would pause releasing the compromise text, citing uncertainty about the committee's timetable. Patrick Witt, executive director of the White House Crypto Commission, criticized the banking industry's continued lobbying on X: "It's hard to interpret further lobbying as anything other than greed or ignorance." A person familiar with the discussions told Eleanor Terrett that Washington trade associations are not serving small banks well, arguing the lobby could either accept the compromise to limit deposit outflows or "sabotage their own impending victory" and remain stuck with the status quo. White House vs. banks: a 0.02% dispute in the data The fight has increasingly centered on the CEA's April 8 analysis, a 21-page report estimating that a full ban on stablecoin yields would increase total bank lending by only about $2.1 billion—roughly 0.02% of outstanding loans. For community banks viewed as most exposed to deposit outflows, the added lending capacity would be about $500 million, a 0.026% increase. The report also estimated the ban would impose a net cost of roughly $800 million on consumers. The implied message: claims that stablecoin yields pose a major threat to deposit bases are not supported by the numbers. Eleanor Terrett reported that the American Bankers Association (ABA) publicly criticized the CEA report, calling its analysis misdirected and warning it overlooked deeper policy risks. The ABA argued that permitting yield-bearing stablecoins could trigger large deposit outflows from community banks, raise funding costs, and tighten local credit. The group said the CEA's focus on the effects of banning yields creates a false sense of security while ignoring worse-case scenarios, including rapid scaling of interest-bearing payment stablecoins. The ABA has previously warned that stablecoin yields could drive deposit outflows of as much as $6.6 trillion. Two more hurdles: DeFi enforcement and ethics language Stablecoin yields are the headline dispute, but Scott has pointed to two additional sticking points. DeFi provisions remain under negotiation. Democrats, citing a string of recent DeFi security incidents—including the theft of about $290 million from Kelp DAO in April and $285 million from Drift Protocol—are pushing for tougher anti-money laundering and sanctions-compliance requirements, particularly for decentralized protocols with strong anonymity features. Scott has suggested the DeFi gap could be closed within two weeks, but that assumes the stablecoin-yield fight does not drag on. Ethics provisions are also contentious. Democrats want language limiting senior officials from personally benefiting from crypto assets while in office, a sensitive demand amid ongoing controversy involving the Trump-linked World Liberty Financial (WLFI) project. Republicans have raised concerns that some proposed restrictions are overly broad and could be used as political weapons. May as the hard window Even if the Banking Committee resolves the remaining issues, the Clarity Act still faces a multi-step path: committee review and vote, clearing a 60-vote threshold in the full Senate, reconciling with the Agriculture Committee's version, aligning with the House version passed in July 2025, and securing the president's signature. With the midterm cycle tightening the calendar, each stage compresses the window for passage. The Clarity Act is positioned as the first comprehensive U.S. crypto market-structure framework, designed to define the SEC and CFTC's respective authority over digital assets and set clearer rules for token classification, exchange registration, and custodian compliance. The House passed its version in July 2025; whether the Senate can move quickly through the Banking Committee may determine if the measure becomes law during this session. Ripple CEO Brad Garlinghouse had previously expected the bill to be finalized in April, later revising that expectation to the end of May. After this week's Warsh hearing, the key near-term signal will be whether the Banking Committee issues a markup notice by Friday. That decision will determine whether the Clarity Act is teed up for late-April consideration or slips until after the Senate returns from its mid-May recess—a delay that would leave scant runway to clear all remaining legislative hurdles before election-year politics take over.

KelpDAO said in a post on X that it is continuing to evaluate all feasible measures to support rsETH holders and limit fallout from a recent security incident in the DeFi ecosystem. The team said it has spent the past two days working with the Arbitrum Security Council and other ecosystem participants to provide context on the incident and help with the ongoing assessment, adding that it appreciates coordination and support from groups including SEAL 911. Earlier, the Arbitrum Security Council froze about 30,700 ETH linked to assets associated with the KelpDAO attacker.

Anna Liu, CEO of HashKey RWA, delivered a keynote at the 2026 Hong Kong Web3 Carnival, according to ChainCatcher. She said HashKey Chain has launched 11 tokenized products, with on-chain RWA assets totaling HK$2 billion. Seven tokenized products are already listed for trading, including Hong Kong's first tokenized gold ETF. Liu outlined four major challenges for real-world asset (RWA) tokenization. First is the authenticity of underlying assets: blockchains cannot ensure the integrity of information before it reaches the chain, leaving oracle reliability as a core issue. Second is the absence of a viable commercial closed loop: many initiatives tokenize assets for its own sake and must deliver incremental value that traditional structures cannot. Third is liquidity: even compliant U.S. STO venues often record daily turnover of only tens of thousands of dollars, underscoring the need to align high-quality assets, licensed distribution, and mature secondary-market infrastructure. Fourth is cross-border compliance complexity, which she advised teams to design for from day one. She added that tokenization decisions should start with three questions: Can it be done? Is it suitable? And why tokenize it? Citing market data, Liu said the global tokenized RWA market reached nearly $30 billion in the first quarter of this year, up more than 260% year over year. The IMF has recently described the trend as a "fundamental restructuring of the financial architecture."

BlockBeats reported on April 21 that crypto market analyst Axel said bitcoin's 30-day net flow across centralized exchanges flipped negative in early March. Net outflows peaked at 300,000 BTC on March 25 and still stood at a net outflow of 98,000 BTC as of April 21. Over the same period, exchange BTC reserves slid from 2.786 million to 2.681 million, extending the decline to seven consecutive weeks and bringing the cumulative drawdown to more than 105,000 BTC. Axel noted that April's price pullback did not trigger panic inflows, a pattern he said points to continued accumulation by long-term holders. He characterized the setup as a synchronized accumulation signal, while warning that net flows could still revert to positive territory.

ether.fi said in a post on X, citing guidance from its security partners, that it will re-enable LayerZero bridging for weETH and eETH within the next 24 hours. The protocol previously stated its Liquid Vault was not directly exposed to risks stemming from the Kelp rsETH incident. As a precaution, it suspended LayerZero cross-chain bridging for weETH and eETH until the incident's root cause is fully understood. For its Liquid (ETH, BTC, USD), sETHFI, and eBTC products, ether.fi has paused the relevant Teller contracts to block LayerZero OFT bridging routes, and has also temporarily halted deposits and withdrawals for those assets. The team said it remains in close coordination with its security partners.

The Bank of Korea's incoming governor said the central bank will press ahead with work on a central bank digital currency (CBDC) and deposit tokens, outlining priorities for the next phase of its digital money agenda. Stablecoins were not referenced in the remarks.

Japan Securities Clearing Corporation will begin a blockchain pilot on the Canton Network (@CantonNetwork) with Mizuho, Nomura, and Digital Asset. The trial will evaluate the use of Japanese government bonds as tokenized collateral on-chain, with an eye toward faster and more flexible transaction processing. The study also covers potential cross-border use cases, while keeping operations aligned with existing legal and compliance frameworks.