Tillis to Push Senate Banking Markup on Crypto Bill

Senator Thom Tillis says he’ll push the Senate Banking Committee to schedule a long-delayed markup on a crypto market structure bill to advance the legislation.

Tillis to Push Senate Banking Markup on Crypto Bill

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Written by

Jesse Coghlan

staff editor

Reviewed by

Felix Ng

staff editor

Written by

Jesse Coghlan

staff editor

Reviewed by

Felix Ng

staff editor

US Senator Tillis to push Senate Banking vote on stalled crypto bill

Latest News

Published

Apr 30, 2026

Republican Senator Thom Tillis says the Senate’s version of the CLARITY Act has “made a lot of progress,” and it was time for lawmakers to vote on advancing the bill.

US Senator Thom Tillis says he will push the Senate Banking Committee to advance the stalled crypto market structure bill, as the text of the bill has made progress and is ready for another vote.

Tillis, a key Senate Banking Republican,

told

reporters on Wednesday that he would ask Senate Banking Committee Chairman Tim Scott “to move forward with scheduling a markup” when the Senate is back in session on May 11.

“I think that we've made a lot of progress,” Tillis said. “But at the end of the day, until you have a forcing mechanism of a markup, everybody that really doesn't want it done is going to have one more thing that they want to talk about, and I think it's time to get it before the committee, move it forward.”

The Senate’s crypto market structure bill would lay out how the US’s two most influential financial market regulators would oversee crypto. The House passed its version of the bill, the CLARITY Act, in July, but the Senate’s version has been plagued by delays as lawmakers and lobbyists have sought to edit provisions.

Thom Tillis holding a press gaggle with reporters on Wednesday. Source:

Chase Williams

The Senate Banking Committee delayed the bill’s markup in January after major crypto lobbyist Coinbase pulled its support over a provision banning crypto exchanges from paying stablecoin yields.

Banking lobbyists have fought to keep the provision in the legislation, arguing that banning third parties from paying stablecoin yields closes a perceived loophole in the GENIUS Act, which prohibits stablecoin issuers from paying yield.

“I believe we’ve heard the concerns [and] addressed a lot of the concerns of the bank,” Tillis said. “There may be a few more that we can get there if they want to come and work in good faith; otherwise, I'm going to encourage the chair to move forward with the markup.”

Related:

Key US senator lifts block on Trump’s Fed pick Kevin Warsh

Tillis added that he hoped to publicly release the legislative text at least four days before the markup, after crypto and banking stakeholders are given a preview.

Other provisions at issue in the bill, which senators have worked to resolve, concern ethics and protecting software developers.

On Tuesday, Politico

reported

that Tillis said the crypto bill would “need to address the law enforcement concerns” around a provision that would protect crypto software developers from prosecution if others commit illegal activity on their platforms.

Tillis told reporters on Wednesday that he was “generally in support” of the progress Senator Cynthia Lummis had made on the provision.

On Monday, Tillis backed a demand popular among Senate Banking Democrats, saying he wouldn’t support the bill

unless it included ethics provisions

limiting how government officials can use and promote crypto.

“There has to be ethics language in the bill before it leaves the Senate, or I’ll go from one of the people working on negotiating it to voting against it,” Tillis said.

Magazine:

Will the CLARITY Act be good — or bad — for DeFi?

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Editorial Policy

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