Clarity Act Eyes May Markup as Lummis and Tillis Split on Timing

Clarity Act markup may shift to May as Lummis and Tillis differ on timing while OCC starts proposed GENIUS Act rulemaking.

The Clarity Act is moving toward a possible May markup as Senate talks continue. 

Senator Cynthia Lummis wants a faster path, while Senator Thom Tillis supports more time. The split comes as lawmakers weigh stablecoin yield concerns, bank pressure, and a tighter legislative calendar. 

At the same time, the OCC has started proposed rulemaking tied to the GENIUS Act.

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Timing Dispute Shapes Next Step for Clarity Act

The Clarity Act is now centered on a debate over timing in the Senate. 

Senator Cynthia Lummis has argued that the bill is ready for markup. She has said the bipartisan work is already mature and should move soon.

Senator Thom Tillis has taken a slower approach. He wants more time before the bill reaches markup. The reported reason is continued debate over stablecoins that may offer yield. 

That issue has raised concern among banks that could face deposit pressure.

The clash is not only about policy details. It is also about the calendar. If the bill slips past May, the path could become harder later this year. The Senate schedule may leave fewer windows for floor action and further talks.

That timing concern has become a central part of the debate. 

Supporters of a faster markup say the bill has been under discussion for months. They argue that further delay could weaken momentum at a key stage.

Stablecoin Yield Remains a Point of Tension

A major issue in the current talks is whether stablecoins should be allowed to offer yield. 

Banks have watched that question closely. A yield-bearing product could attract user funds that might otherwise stay in bank deposits.

That pressure has made the banking sector an active part of the debate. 

Some observers see Tillis as giving more time for those concerns. The goal is to resolve key issues before the bill moves into markup.

Lummis has pointed to the work already done across party lines. Her position is that the framework is largely in place. From that view, a longer wait may not add much value to the process.

The present dispute fits a common pattern in late-stage legislation. 

Bills often face final pressure over narrow but sensitive points. In this case, stablecoin yield rules appear to be one of the main sticking points.

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OCC Proposal Adds Momentum to Digital Asset Rulemaking

The policy debate is also expanding beyond the Clarity Act. 

The Office of the Comptroller of the Currency has confirmed a proposed rule to implement the GENIUS Act. That step starts a formal federal rulemaking process for payment stablecoins under OCC oversight.

The proposal points to a clearer federal path for stablecoin issuers. 

It also suggests that OCC-supervised banks may fall under parts of the custody framework. That would connect traditional banking rules more closely with digital asset activity.

The new proposal arrives as Congress continues work on market structure and stablecoin legislation. 

Together, the Senate debate and the OCC action show that U.S. crypto policy is moving on parallel tracks. One track is legislative, and the other is regulatory.

The broader result is a more active period for digital asset policy in Washington. For now, attention remains fixed on whether the Clarity Act reaches markup in May. That decision may shape the pace of crypto legislation for the rest of 2026.

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