Sen. Thom Tillis Says Clarity Act Ready for Committee Markup

April 29 — Fox Business reporter Eleanor Terrett reported that U.S. Republican Senator Thom Tillis said he is prepared to move the Clarity Act to the committee stage for a line-by-line review. Speaking on Capitol Hill, Tillis said the effort has made substantial progress and is ready to be submitted to committee to keep the process moving. He added that he will ask the committee chair to schedule a formal review once lawmakers return. On disputes over stablecoin yields, Tillis said most banking-industry concerns have been heard and addressed, and he encouraged continued participation from all sides in "good faith discussions." On timing, Tillis said he aims to publish the legislative text covering stablecoin yield terms four to five days ahead of formal consideration and to share advance previews with relevant stakeholders. He also said he generally supports the legislative approach currently being advanced by Cynthia Lummis on software developer liability and the potential law-enforcement implications of a 1960 criminal statute.