Senator Tillis promises to push for the review of the Clarity Act on May 11.

CryptoWorld News reports that this week Senator Thillis said in a Fox Business interview that he will push the Senate Banking Committee to schedule a review of the Clarity Act after it reconvenes on May 11, which is his most explicit commitment on timing. He said, “I will ask the chair to advance the review, believing we have made progress, and it’s time to submit it to the committee.” Thillis was previously a critic of the bill, expressing concern about the stablecoin yield provisions and the legal treatment of software developers. His change indicates that negotiations have made enough progress, even though there are still unresolved issues. He invited stakeholders to “cooperate in good faith,” rather than holding the bill hostage. The debate over stablecoin yields is one of the long-standing controversies surrounding the bill. Coinbase previously withdrew its support due to restrictions on exchange yields, saying the limits were too harsh, while banking industry groups supported these restrictions, arguing that they complement the existing framework. Thillis also mentioned that the legislative text will be shared with stakeholders before it is released to the public, allowing four to five days for review. As midterm elections approach, the window to push comprehensive crypto market structure legislation has become more urgent.