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U.S. Senator Tillis: Preparing to advance the "Clarity Act" to committee review stage
BlockBeats News, April 29 — Fox Business reporter Eleanor Terrett disclosed that U.S. Republican Senator Thom Tillis said he is ready to move the Clarity Act into the committee and begin a section-by-section revision and review.
In an interview on Capitol Hill, Tillis said, “We’ve made a lot of progress, and it’s time to submit the bill to the committee for further advancement.” He said he will ask the committee chair to arrange a formal review schedule after the lawmakers reconvene.
Regarding disputes related to stablecoin yield, Tillis said that most concerns from the banking industry have been heard and addressed, and he welcomed all parties to continue “participating in discussions in good faith.”
On the timeline, Tillis said he hopes to publish the legislative text covering stablecoin yield provisions 4 to 5 days before the formal review, and to provide an advance preview version to relevant stakeholders.
In addition, regarding software developer responsibility and the potential impact that the 1960 criminal code may have on law enforcement, Tillis said he generally supports the legislative direction that Cynthia Lummis is currently advancing.