U.S. Senators push Clarity Act into review process; stablecoin yield provisions may become clearer

Mars Finance News: Crypto journalist Eleanor Terrett posted on the X platform that U.S. Senator Thom Tillis plans to push the Clarity Act into the markup stage in the Senate Banking Committee as soon as possible, and stated that legislative progress “has achieved significant consensus,” and should now move into formal advancement. Thom Tillis told Congress that he will request the committee chair to schedule a review meeting after Congress adjourns, and expects to release the legislative text regarding stablecoin yield provisions 4 to 5 days before the review for industry and stakeholders to review in advance. Most banking industry concerns about risks related to stablecoin yields have been addressed in discussions, and institutions with remaining opinions are encouraged to “participate in improving the legislation in good faith.” Additionally, Thom Tillis mentioned that he generally supports the legislative framework proposed by Senator Cynthia Lummis regarding issues such as software developers and the potential impact of applying the 1960 criminal statutes. This statement indicates that U.S. crypto regulation legislation is accelerating toward substantive progress in defining stablecoins and developer responsibilities.