CLARITY Act Markup Delayed to May as Stablecoin Yield Fight Continues

U.S. Senator Thom Tillis urged the Senate Banking Committee to delay the CLARITY Act markup until May, saying he does not expect action in April. The move keeps pressure on the unresolved CLARITY Act stablecoin yield provisions. The sticking point is stablecoin yield. Banking groups want tighter limits on interest-like rewards tied to stablecoin holdings, arguing these products could pull deposits from community banks and raise funding costs. Crypto industry groups counter that stablecoin yield is important for competition and user adoption. Tillis delivered the timing message to Chair Tim Scott, adding uncertainty to the broader crypto market-structure bill’s schedule. Procedurally, if Banking targets a vote during the week of April 27 it must decide quickly; shifting to mid-May could compress the remaining time for committee action and a full Senate floor push, lowering the odds of passing the CLARITY Act this year. Market expectations reportedly softened as prediction-trader sentiment cooled. Administration officials continue to call for progress, noting February talks failed to resolve the stablecoin yield standoff but negotiations remain active. For traders, the near-term question is whether the CLARITY Act stays on an April path or moves further into May—driven by stablecoin yield uncertainty.