Crypto Lobby Steps Up Pressure After Clarity Act Vote Falls Short
The U.S. crypto industry group Stand With Crypto is stepping up pressure on lawmakers ahead of the midterm elections after a key vote failed to move forward the Clarity Act, a comprehensive regulatory framework for digital assets.
The Senate voted 49-47 in favor of beginning deliberations on the bill, but fell short of the 60 votes needed. The group's Executive Director Mason Lynaugh described the outcome as a 'lack of leadership' and said that 67 million U.S. crypto holders have been waiting for clear rules to safely use, develop and invest in their assets.
Lynaugh also highlighted the cost of regulatory delays, arguing that each delay is pushing U.S. technology innovation, jobs and investment capital overseas. Stand With Crypto considers the Clarity Act its top policy priority and will continue legislative lobbying.