NC Crypto Group Pushes Tillis to Advance Clarity Act

NC Blockchain Initiative urges Sen. Tillis to move the Clarity Act to markup, pushing back on banker opposition to stablecoin yield.

The North Carolina Blockchain and AI Initiative is turning up the heat on Capitol Hill.

The industry group has sent a formal letter to Senator Thom Tillis. It calls on him to move the Clarity for Payment Stablecoins Act to committee markup. The letter pushes back against recent opposition from the North Carolina Bankers Association. 

At stake, according to the group, is the state’s standing in global digital finance.

Related reading: 

Stablecoin Clarity Act Faces Pushback from NC Bankers

The NC Blockchain and AI Initiative addressed the bankers association’s concerns head-on. The NCBA had raised red flags over yield-bearing stablecoin products. The blockchain group argued that this position misses a bigger picture.

First, the group pointed to the GENIUS Act. It said that law already brought stablecoin issuers under federal oversight and capital requirements. That move, the group argued, pulled these activities out of the shadows and into a regulated space.

Second, the letter warned against a full ban on yield-bearing products. 

The group said such a ban would push North Carolina capital into unregulated offshore markets. That outcome, it argued, would create the very systemic risks banks are trying to prevent.

A board source within the NC Blockchain Initiative also weighed in. This person told reporter Eleanor Terrett that the NCBA’s stance does not represent all small banks and credit unions in North Carolina.

Charlotte’s Role as a Banking Hub Drives the Urgency

Charlotte sits at the center of this debate. 

The city ranks as the second-largest banking hub in the United States. The NC Blockchain Initiative said banks in Charlotte must be allowed to lead in digital asset settlement to hold that position.

The letter outlined that the Clarity Act would give banks 13 new powers tied to digital assets. 

These tools, the group said, would help financial institutions compete and innovate rather than fall behind. The group stressed that delaying the bill would not stop technology adoption. It would only ensure that U.S. banks are not the ones leading it.

Besides, the letter also cited North Carolina’s Research Triangle as a key talent base. The group said the state has the people and the capital. What it lacks is a federal framework.

Read also: 

NC Blockchain Initiative Calls for Immediate Senate Action

The NC Blockchain Initiative pointed to Senator Tillis’ past support for responsible innovation. It also referenced his backing of a bank-crypto compromise that protects financial stability. 

The group said these positions align with the Clarity Act’s goals.

As a senior member of the Senate Banking Committee, Tillis holds real influence here. The letter urged him to work alongside Chairman Tim Scott to push the bill forward. 

The group said a markup would send the green light that North Carolina’s banking and tech sectors need to move together.

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