The anticipated markup of the Clarity Act by the Senate Banking Committee is unlikely to occur before May, as no schedule has been announced by Senator Tim Scott or the Banking GOP. Although a hearing can be scheduled up to three days in advance, Monday marks the last opportunity before the Senate's weeklong recess starting Thursday. Committee priorities may include a confirmation vote for Fed Chair nominee Kevin Warsh, further delaying the Clarity Act's progress. Senator Thom Tillis has requested additional time to consult with banks on stablecoin yield issues and aims to release the text publicly before a markup. With no text released yet, sources indicate that a markup is not expected until at least the second week of May, effectively ruling out any action in April.