Senator Tillis Advocates for Delay in CLARITY Act Markup to May
- Senator Thom Tillis requested the Senate Banking Committee postpone the markup of the CLARITY Act until May.
- Tillis emphasized that more time is needed for banks and crypto negotiators to reach a compromise on stablecoin yields.
- The Senate Banking Committee must decide by Friday whether to hold a markup during the week of April 27.
- The American Bankers Association has voiced opposition to stablecoin yield provisions, arguing they could lead to deposit flight.
- Polymarket data indicates a declining probability, now at only 50%, that President Trump will sign the CLARITY Act into law this year.
This week is crucial for the CLARITY Act as negotiations continue over stablecoin yield issues, which may affect its markup timeline significantly.
With banks actively lobbying against stablecoin yields, the likelihood of timely passage of the CLARITY Act appears increasingly uncertain, as reflected in Polymarket’s latest odds of only a 50% chance for presidential approval this year.
