- Three major crypto advocacy groups urged Senate leaders to prioritize a floor vote on the CLARITY Act before the August recess.
- The bill requires 60 votes to pass in a 52-47 Republican-controlled Senate, with bipartisan negotiations ongoing over ethics provisions.
- Industry leaders like Coinbase CEO Brian Armstrong and 1inch’s chief legal officer voiced strong support for the market structure bill.
On Friday, the Crypto Council for Innovation, Digital Chamber, and Blockchain Association sent a letter to Senate Majority Leader John Thune and Minority Leader Chuck Schumer, urging floor consideration of the Digital Asset Market Clarity (CLARITY) Act. The groups acknowledged that constructive bipartisan negotiations remain underway to expand support for the legislation.
The CLARITY Act needs 60 votes to pass in the Senate, where Republicans hold a 52-47 majority. Although the bill has advanced through the banking and agriculture committees, some lawmakers plan to withhold their votes until key ethics provisions are addressed. Senator Ruben Gallego criticized the Republican ethics proposal as unserious, stating: “Whatever piece of s— they sent back to us, that was not a serious effort.”
Coinbase CEO Brian Armstrong said on X that the current lack of a federal framework allows bad actors like FTX to harm customers. He argued the bill provides strong consumer protections and tools for law enforcement. Orest Gavryliak, chief legal officer of 1inch, told Cointelegraph’s Chain Reaction podcast that CLARITY would establish a framework for non-custodial protocols rather than regulating them through enforcement.
If lawmakers cannot hold a vote before the Senate’s August break, consideration could slip into the weeks before the 2026 midterms. As of Friday, Kalshi offered event contracts with a 40.3% chance that the bill would pass before the recess.
✅ Follow BITNEWSBOT on Telegram, Facebook, LinkedIn, X.com, and Google News for instant updates.
