Sen. Tillis Pushes for CLARITY Act Markup as Stablecoin Yield Concerns Largely Addressed
Tech Sen. Tillis Pushes for CLARITY Act Markup as Stablecoin Yield Concerns Largely Addressed Senator Thom Tillis, a key member of the Senate Banking Committee, has signaled his readiness to vote to advance the CLARITY Act out of the committee. The senator said he will push for the crypto bill‘s markup once they return from their May recess, as they have largely addressed banks’ concerns over the stablecoin yield text in the bill. Senator Tillis To Push For CLARITY Act Markup Amid May Expectations According to crypto journalist Eleanor Terrett, Senator Tillis said he is ready to advance the CLARITY Act to markup. The senator said that he will ask the Senate Banking Committee Chair, Tim Scott, to move forward with scheduling a markup when they return from their May recess. “I think we‘ve made a lot of progress, and it’s time to get it before the committee to move it forward,” Tillis said. This is significant as Senator Scott had previously cited getting full Republican support as a hurdle before they could mark up the crypto bill. Tillis appeared to be one of the holdouts on the committee before now, as he sought to address concerns about stablecoin rewards, with the banking industry claiming that