The Clarity Act just received its most important push forward in weeks. Senator Thom Tillis, the North Carolina Republican who had been one of the bill’s most vocal internal critics, told reporters on Capitol Hill Tuesday morning that he is ready to move the legislation to a formal committee markup.
“I’m going to ask the chair to move forward with scheduling a markup when we get back,” Tillis said. “I think we’ve made a lot of progress and it’s time to get it before the committee to move it forward.”
The statement marks a turn from a senator who earlier this week had raised fresh concerns about the bill’s impact on software developers under a 1960-era criminal statute, adding to what had appeared to be a growing list of obstacles.
Stablecoin Yield Dispute Largely Settled
Tillis hinted that the stablecoin yield question, which has been the bill’s main point for months, has largely been worked through. Most bank concerns on the issue have been heard and addressed, he said, adding that remaining stakeholders are welcome to engage but must “come and work in good faith.”
On the law enforcement concern he flagged earlier this week regarding software developers and the 1960 criminal statute, Tillis pointed to Senator Lummis’s approach and said he is “generally in support” of where the bill currently stands on that issue.
What Remains Unresolved
With the yield issue largely put to rest, attention inside the Senate is now shifting to two remaining pressure points: ethics language targeting executive branch crypto holdings and DeFi provisions, specifically the Blockchain Regulatory Certainty Act and Section 1960 protections for software developers.
Senator Lummis, who has been leading on the developer protection issue, offered a cautiously optimistic update. “We’ve made significant progress on safeguards for non-controlling developers with respect to money transmitting laws, and I hope to have more soon,” she said.
On ethics, the picture is more complex. Sources familiar with the process say ethics provisions are being actively negotiated but are more likely to be added after the bill reaches the Senate floor rather than incorporated at the committee markup stage. That sequencing removes one potential blockage from the markup itself while pushing a politically sensitive fight to a later stage.
The Timeline
Tillis outlined a specific sequencing for the final steps. Legislative text on stablecoin yield will be released to stakeholders four to five days before a markup takes place, giving the industry a window to review the language before the committee vote proceeds.
The Senate is currently in recess. A markup scheduled for the second week of May remains consistent with Tillis’s stated intentions and aligns with what multiple sources had been pointing toward before Tuesday’s comments added fresh momentum.
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