Senate's Clarity Act on Track for May Vote with Key Holdout Onboard

The Senate's Digital Asset Market Clarity Act is gaining momentum as key senator Thom Tillis declares the bill ready for markup. This development opens up the possibility of a vote in May, but any further delays could be detrimental to the legislation's chances in 2026.

Tillis' announcement comes after months of negotiation with banking lobbyists, who had raised concerns about stablecoin yields in the bill. The senator stated that the legislation has addressed many of these concerns and is now ready for markup.

However, there are still some hurdles to overcome before the bill can advance. A provision pushed by Democrats aims to ban government officials from having personal interests in cryptocurrency businesses, while Senate Judiciary Committee Chair Chuck Grassley wants to review DeFi provisions before the bill proceeds.