UPDATE: The CLARITY Act is running into a compressed 9–10 week window in the Senate before the August recess. A markup is expected in May, raising questions about whether the bill can clear the chamber in time.

UPDATE: The CLARITY Act is working against a tight 9–10 week Senate schedule ahead of the August recess. A markup is now expected in May, putting pressure on lawmakers to move the bill fast enough to clear the chamber in time.

The Trump administration is moving forward with plans for a Strategic Bitcoin Reserve, with a formal strategy expected within the next two months, according to a Bybit weekly report. The White House has confirmed it intends to designate roughly 200,000 BTC seized through government enforcement actions as a national reserve asset. White House digital asset adviser Patrick Witt said at the Bitcoin 2026 conference that a major reserve-related announcement is anticipated in the coming weeks, as legal and legislative groundwork continues. The final implementation will hinge on forthcoming official documentation.

Republican Sen. Thom Tillis said he will oppose the Senate's emerging crypto market structure package unless it includes ethics provisions limiting how White House officials can engage with digital assets, Politico reported. Tillis, a senior member of the Senate Banking Committee and set to retire early next year, said the bill should not advance without explicit ethics language. Sen. Ruben Gallego, a Democrat, backed that stance, arguing there will be no final agreement without bipartisan consensus on an ethics provision. The House passed its version in July under the name the CLARITY Act. In the Senate, the draft under discussion would split oversight of crypto markets between the Commodity Futures Trading Commission and the Securities and Exchange Commission. Negotiations have dragged on, with disputes focused on ethics guardrails and the treatment of stablecoin yield payments. Lawmakers from both parties have cited potential conflicts of interest involving political figures and the crypto industry. Democrats have also pointed to crypto ventures linked to the Trump family and have pushed to use the legislation to address what they describe as conflicts. Talks on ethics language are continuing, though final wording has not been settled. "We're making progress," Sen. Adam Schiff told Politico, saying that as other portions of the bill come together, differences on ethics are narrowing. Schiff has previously endorsed a broad ethics framework that could bar federal employees from sponsoring, endorsing, or issuing certain digital assets, restrictions that could extend to the president. He noted the president has publicly engaged with memecoins and NFT projects bearing his name. Beyond ethics, the regulatory blueprint remains a key flashpoint. The CLARITY Act's approach to formally dividing jurisdiction between the CFTC and SEC continues to draw debate over potential gaps, preemption, and how complex instruments such as stablecoins should be handled. Market participants are also focused on how agencies including the SEC, DOJ, and CFTC would coordinate enforcement across securities law, commodities rules, and anti-money-laundering standards. Exchanges, compliance teams, and financial institutions are watching for implications for licensing, cross-border operations, and bank-crypto integration. The debate is also unfolding against an international backdrop as other jurisdictions advance their own ethics and disclosure rules for political contributions and crypto-related sponsorships. Canada, for example, has moved to advance legislation addressing crypto political donations. Industry groups say a sweeping U.S. ethics regime could raise compliance expectations for political communications and asset endorsements, with knock-on effects for governance, lobbying disclosures, and conflict-of-interest controls. For now, the Senate bill's path depends on whether lawmakers can reach a bipartisan deal on ethics guardrails. The outcome is expected to shape how oversight is allocated between the CFTC and SEC, how digital-asset products are treated under U.S. securities and commodities laws, and how compliance burdens evolve for crypto firms and financial institutions operating in the United States.

Foresight News reported that the U.S. Senate Banking Committee, citing its official website, will hold an executive session at 22:00 Beijing time on April 29 to vote on the nomination of Waugh to serve as Chair of the Federal Reserve and as a member of the Board of Governors. If approved at the committee level, the nomination would then move to a vote by the full Senate, followed by a formal presidential appointment. (Source: Foresight News)

Rep. Nick Begich said he plans to reintroduce the #BITCOIN Act in the coming weeks, renaming the proposal the American Reserves Modernization Act (ARMA).

The Bank of Japan held its benchmark interest rate steady at 0.75%, citing uncertainty from the Iran war and rising energy prices, Cointelegraph reported.

Sen. Thom Tillis has said he will support Kevin Warsh’s confirmation as Chair of the U.S. Federal Reserve, following the U.S. Department of Justice’s closure of its criminal investigation into current Fed Chair Jerome Powell, according to a report by Cointelegraph. Tillis’s endorsement comes as discussions continue in Washington over U.S. monetary policy.

Odaily Planet Daily reports that Republican Sen. Thom Tillis on Sunday dropped his filibuster of Kevin Warsh's nomination to serve as Federal Reserve chair after the U.S. Department of Justice concluded its investigation into Jerome Powell. The Senate Banking Committee later voted 13–11 to send Warsh's nomination to the full Senate, according to the committee's website. The Senate vote is set for April 29 at 10:00 a.m. Eastern. The Federal Open Market Committee is also scheduled to announce its latest interest-rate decision that day. Powell is expected to hold what would be his 63rd press conference as Fed chair and potentially his last. Powell's term as chair ends May 15, while his term as a Fed governor runs through Jan. 31, 2028. Markets are closely watching whether Powell will also resign from the Board of Governors.