Overview
- Senator Thom Tillis, a senior Banking Committee member, said on Monday he will vote against the CLARITY Act unless it adds rules limiting how White House officials engage with digital assets.
- Democrats say the bill will not move without a bipartisan ethics deal that could bar federal employees, including the president, from sponsoring, endorsing, or issuing crypto.
- The Senate Banking Committee let April pass without a markup, leaving fewer than four working weeks before the Memorial Day recess to clear committee, win 60 votes, and reconcile texts.
- Unresolved rules on stablecoin yields remain a core dispute as banks warn interest-like payouts on coin balances could siphon deposits from lenders.
- Industry pressure and predictions diverge after a 120-plus firm letter on April 23 urged an immediate markup, with analysts putting passage odds near 33%–50% as Mike Novogratz still predicts May action.