Clarity Act Faces Uncertain Future Amid Congressional Gridlock
The US Senate is set to consider the Digital Asset Market Clarity (CLARITY) Act, which has been pushed by many in the cryptocurrency industry for regulatory clarity. The bill needs a three-fifths supermajority to advance, and if it fails to meet this threshold, it will likely be delayed into the next session of Congress with different politics in play.
Senator John Thune, the Republican majority leader, has scheduled a cloture vote for Tuesday, but Senator Cynthia Lummis warns that the 'next real opportunity' for the bill to pass might not be until 2030 if lawmakers are unable to reach an agreement and send it to the president's desk.
Crypto money is potentially swaying voters in the 2026 midterm elections. Senator Sherrod Brown, who was voted out in 2024, is back running for his seat with support from a crypto-backed PAC called Fairshake. The group has spent millions of dollars on ads supporting candidates who have backed bills like GENIUS and CLARITY.