Senate Banking Committee to Vote on Clarity Act in Mid-May Amid Ongoing Disputes

The US Senate Banking Committee is poised to vote on the Clarity Act, a key piece of crypto legislation, after Senator Thom Tillis expressed his intention to move forward with the markup in mid-May.

Despite delays caused by disputes over stablecoin yield, ethics rules, and software developer protections, Tillis remains committed to resolving these issues. The senator has been moderating talks between the banking lobby and the crypto industry on the issue of stablecoin rewards, which has sparked tension.

Tillis' comments come as the White House has sided with the crypto industry on the dispute over stablecoin yield, but a compromise has yet to be reached. The senator's willingness to push forward with the markup is seen as a positive development for proponents of the bill.