Crypto Groups Urge Senate Vote on CLARITY Act Amid Ethics Disputes

Three major crypto advocacy groups have urged U.S. Senate leaders to allow the Digital Asset Market Clarity (CLARITY) Act to receive 'floor consideration' before the chamber departs for state work periods in August.

In a joint letter sent Friday to Majority Leader John Thune and Minority Leader Chuck Schumer, the organizations said bipartisan negotiations are still underway and asked senators to keep discussions moving. The appeal comes as the bill has cleared the Senate Banking and Agriculture committees but faces uncertainty around timing due to remaining policy disputes.

The CLARITY Act aims to provide clearer rules for digital asset markets and has progressed through key committees, including banking and agriculture panels. However, its passage remains uncertain due to unresolved provisions and disagreements on ethics-related safeguards.

The bill includes ethics provisions designed to bar public officials from issuing or sponsoring cryptocurrencies, but Democrats have criticized these measures as insufficient, raising the odds of stalled negotiations and a delayed vote.