Crypto Lobbying Push Fails to Get CLARITY Act Passed in Senate

The CLARITY Act, a bill aimed at clarifying federal oversight of digital assets, has stalled in the Senate despite a $200 million lobbying push from the crypto industry.

The bill cleared the House with a vote of 294 to 134 on July 17, 2025, but hit a snag in the Senate Banking Committee, which advanced its version by 15 to 9 on May 14, 2026. The committee's chairman, Tim Scott, stated that the bill would move digital assets into a clearer federal framework.

However, the bill still needs a floor vote before senators leave Washington for their summer recess. Senate Majority Leader John Thune pointed to Democratic resistance as a reason for the delay, with a return date set for September 14.

The delay is seen as a defeat for the industry, which spent $225 million trying to get the bill through. The main issue holding up the bill is an ethics clause that bars officials from profiting from digital assets while writing rules for the same market. Senator Elizabeth Warren argued that the current Republican approach would not prevent Donald Trump from making more than $1.4 billion from cryptocurrency ventures.