Senator Tillis Delays Release of CLARITY Act Stablecoin Draft
- Senator Thom Tillis announced a delay in releasing the stablecoin yield draft of the CLARITY Act.
- The delay is due to an uncertain timeline for the Senate Banking Committee’s review process.
- No markup date for the CLARITY Act is currently on the Senate calendar, impacting its progress.
- The stablecoin yield clause remains a contentious issue among banks and crypto entities.
- The bill missed its key deadline between April 13-20, with no scheduled markup during this period.
As the May Senate recess approaches, further delays could complicate the passage of the crypto bill, pushing it into a more uncertain political landscape.
JPMorgan remains optimistic about the approval of the CLARITY Act this year, although changes in House leadership could affect its priority.(Source)
