US senator urges delay on CLARITY Act amid bank lobbying

U.S. Republican Senator Thom Tillis has urged Senate Banking Committee Chairman Tim Scott not to advance a cryptocurrency market structure bill (CLARITY) in April, according to a post on X by Brendan Pedersen of Punchbowl News. Tillis argued that the Senate needs more time to finalize a compromise between the banking and crypto industries on the issue of stablecoin interest, suggesting the bill could be taken up in May. Previously, CryptoInAmerica reported that the CLARITY Act's Senate deliberation was likely to be delayed due to lobbying from the banking sector, which it said was heavily focused on Senator Tillis.