More than 200 crypto companies and trade groups have pressed Senate leaders to move the long-stalled market-structure bill known as the CLARITY Act to a full vote, arguing the legislation is critical to keeping digital-asset innovation, jobs and investment in the United States.
Stand With Crypto — together with the Blockchain Association, the Crypto Council for Innovation and The Digital Chamber — on Monday shared a coordinated letter to Senate Majority Leader John Thune and Minority Leader Chuck Schumer asking them to schedule a Senate floor vote. The letter, posted on X by Stand With Crypto, said simply: it’s time for the CLARITY Act to “cross the finish line.”
Who’s backing the push
- The letter was signed by more than 200 organizations, including major industry names such as Coinbase, Circle, Ripple and Binance.US.
- The effort is also supported by the Blockchain Association and a group of 160 former national security, intelligence and law enforcement officials who have urged the Senate to act.
What the CLARITY Act would do
According to the industry letter, the bill would create a comprehensive federal framework for digital-asset markets by:
- clarifying which regulators oversee which crypto activities;
- creating practical registration pathways for market participants;
- preserving protections for software developers; and
- encouraging more crypto activity to operate within U.S. markets and regulatory oversight.
Supporters say those changes would help keep innovation, investment and jobs in the U.S. and prevent digital-asset activity from migrating to offshore jurisdictions where oversight, transparency and consumer protections are weaker.
Timing, momentum and remaining hurdles
The push comes after the Senate Banking Committee approved its portion of the bill last month — a milestone that ended months of delay centered largely on a dispute over stablecoin yield rules. A full Senate vote is now expected in the coming weeks; Patrick Witt, executive director of the President’s Council of Advisors for Digital Assets, has suggested passage could come by July 4.
But big obstacles remain. The bill would still need House approval; the House passed its own version last year, meaning the two texts could require significant reconciliation before heading to President Donald Trump’s desk. That has led some market observers to scale back their expectations for passage this cycle.
Market research head Alex Thorn at Galaxy lowered his odds of the CLARITY Act passing in 2026 from 75% to 60%, citing a congested Senate calendar. Thorn noted that the failed FISA reauthorization vote is likely to dominate Senate business in the near term, narrowing the window to take up crypto legislation. He also said there’s little public progress on outstanding negotiation points, including ethics guardrails and illicit-finance provisions.
Two Senate Democrats who helped advance the bill in committee, Sens. Ruben Gallego and Angela Alsobrooks, have warned their continued support depends on reaching agreements on ethics rules for government officials who deal with crypto — a sticking point that could influence final votes.
Outlook
Industry advocates argue the choice before Congress is stark: build the next generation of financial infrastructure under U.S. law and oversight, or let it move offshore to markets with less transparency and enforcement. With committee approval in hand but a tight calendar and unresolved policy trade-offs, the CLARITY Act’s path to becoming law remains uncertain — and the coming weeks will be critical in determining whether the Senate can turn industry momentum into final passage.
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