Crypto Lobbyists Go Local as Clarity Act Vote Looms

Crypto and banking groups are escalating their lobbying efforts in support of the Clarity Act, which aims to establish federal rules for digital assets. The Senate is set to hold a key vote on September 15.

Stand With Crypto, a Coinbase-backed advocacy group with 3 million supporters, has been actively engaging with senators through meetings, local events, op-eds, calls, emails, and advertising. In August, its members called or emailed Congress nearly 50,000 times.

The Blockchain Association has also launched Clarity for America to help individuals and companies contact senators in support of the bill. However, community banks are opposing the legislation, arguing that it could harm local economies by allowing crypto platforms to pay rewards on stablecoins.