PANews reported on April 23 that, according to crypto journalist Eleanor Terrett, U.S. Senator Bernie Moreno stated at an event in Washington that crypto market structure legislation is expected to be completed by the end of May. Moreno warned last month that if the Clarity Act fails to pass in May, crypto legislation may not progress for the foreseeable future.

In response to banks' objections to stablecoin yields, Moreno stated that "there is a lot of noise in the system, it's all fake," and urged banks to "accelerate the pace of innovation."