Crypto Lobbying Effort Fails to Secure Regulatory Framework

A proposed measure to establish a comprehensive regulatory framework for cryptocurrencies and electronic assets has been put on hold in the U.S. Senate, despite a significant lobbying effort by the crypto sector.

The CLARITY Act, which sets ground rules for cryptocurrency corporations, was scheduled to be voted on before the summer recess, but the decision was postponed, with Senate Republican Leader John Thune stating that it will return in September.

The delay comes as the crypto industry has spent over $225 million on political donations and lobbying efforts since January 2025, according to a Financial Times study. This includes more than $185 million on election-related spending and another $40 million on lobbying in Washington.

Some Senate Republicans are hesitant due to concerns from the banking industry that crypto accounts with higher rates and benefits could draw clients away from traditional banks.