Uncertainty Surrounds CLARITY Act Senate Markup Schedule
- No announcement has been made regarding the markup of the CLARITY Act by Senator Tim Scott or the Senate Banking Committee.
- Monday is the last day for scheduling a hearing before a seven-day Senate recess, as hearings can be called with three days’ notice.
- A committee vote on Federal Reserve chair nominee Kevin Warsh is scheduled for April 29, which may delay the markup.
- Negotiations around stablecoin yield are ongoing, with Senator Thom Tillis requesting more time to consult banks.
- Sources suggest that the markup could be pushed into May due to these delays and ongoing discussions.
The lack of clarity on the stablecoin yield draft and other negotiations indicates that the CLARITY Act’s progress is uncertain, reflecting broader challenges in crypto legislation.
With no updates expected before Monday, industry participants are preparing for a potential delay until at least mid-May regarding the CLARITY Act markup process.
