U.S. Senator Pushes Clarity Act Into Committee Review Process, Stablecoin Yield Rules May Be Clarified

Odaily reported that crypto journalist Eleanor Terrett posted on X platform, stating that U.S. Senator Thom Tillis plans to push the Clarity Act to enter the Senate Banking Committee's markup phase as soon as possible, noting that legislative progress has "reached a broad consensus" and should now move to formal advancement procedures. In Congress, Thom Tillis said he will request the committee chairman to schedule a review meeting after the congressional recess, and expects to release the legislative text regarding stablecoin yield terms 4 to 5 days before the review, allowing the industry and relevant parties to review it in advance. Most of the banking sector's concerns about the risks associated with stablecoin yields have been addressed in discussions, and he encouraged institutions that still have concerns to "participate in good faith to refine the legislation."

Additionally, Thom Tillis mentioned that regarding issues such as the potential impact of applying criminal provisions from 1960 to software developers and law enforcement, he generally supports the legislative framework direction proposed by Senator Cynthia Lummis. This statement signals that U.S. crypto regulatory legislation is accelerating into a substantive implementation phase concerning stablecoins and the definition of developer responsibilities.