US senator urges delay of CLARITY Act Senate markup until May: Report

US Senator Thom Tillis said members of the crypto and banking industries still need more time to be heard.

A US senator has reportedly urged Senate Banking Chair Tim Scott to delay the markup for the crypto market structure bill until May, as banking and crypto representatives need more time to resolve disagreements over stablecoin yield provisions.

US Republican Thom Tillis of North Carolina told reporters Monday that he does not expect the Senate Banking Committee to mark up the legislation, also known as the CLARITY Act, in April and has recommended that Scott schedule it for next month, according to Punchbowl News.

Tillis, who has been leading discussions between crypto and banking members, reportedly told Scott: “It’s very important to me not to accelerate things, to hear everybody, and give them a rational basis for what we do accept.”

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