Senator Tillis Says CLARITY Act Ready for Markup, Urges Banking Committee Chair to Advance
U.S. Senator Thom Tillis stated that the CLARITY Act, aimed at clarifying the digital asset market, is ready to enter the Senate Banking Committee markup process.
Tillis mentioned that major concerns from banks regarding the stablecoin revenue provisions have been addressed and will request the committee chair to schedule a markup meeting after the May recess, following weeks of delays due to disagreements over stablecoins.
In the process of crypto regulatory legislation, institutions and crypto companies are increasing lobbying funds to secure the bill's progress, driving market expectations for regulatory clarity higher, benefiting participants in the crypto industry, while traditional banks face pressure on pricing power in the stablecoin competition.
Source: Public Information
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Senator Thom Tillis, a key member of the Senate Banking Committee, has previously taken a cautious stance on stablecoin revenue provisions. His recent statement continues his role in the negotiations for the CLARITY Act since 2025, having earlier pushed for additional review time citing bank feedback.
On the capital front, the crypto industry is mobilizing congressional resources through lobbying groups and corporate donations. Tillis's push for markup aims to package stablecoins with market structure provisions, motivated by a commitment to regulatory clarity and the completion of key legislative milestones before the midterm elections.
Similar to the path taken by the House in passing the CLARITY Act version and the FIT21 bill in 2025, the current U.S. crypto regulation is in a legislative sprint transitioning from SEC-led enforcement to a clear division of responsibilities between the CFTC and SEC.
Essentially, this represents a regulatory shift: the pre-markup process addresses bank lobbying disagreements, concentrating resources through congressional legislative mechanisms towards building a compliance framework, and restructuring digital asset pricing power from regulatory uncertainty to legally clear boundaries.