Crypto Industry Makes Final Push for CLARITY Act Ahead of Senate Vote

The crypto industry is making a final push for the Digital Asset Market Clarity Act (CLARITY Act) ahead of its first Senate floor vote on Tuesday. The bill, which aims to provide clarity and regulation in the digital asset market, has been a topic of debate among lawmakers and industry leaders.

Coinbase policy chief Faryar Shirzad said that the bill satisfies all seven priorities outlined by Democrats in 2025 and incorporates 126 requested changes. He urged Senate Democrats to back the bill, stating 'Every one of those seven pillars is addressed in the legislation before the Senate.'

However, banking groups are pushing back on the bill's stablecoin yield provisions, arguing that its circuit breaker would act only after a significant deposit flight had already occurred.

New York Attorney General Letitia James led a bipartisan group of 17 other attorneys general in a letter opposing the bill. They warn that it could threaten their ability to protect investors from rampant digital cryptocurrency fraud and scams.