Kristin Smith Urges Senate to Pass CLARITY Act Before Legislative Calendar Crowds Out

Kristin Smith, President of the Solana Institute, has urged the U.S. Senate to prioritize passage of the CLARITY Act, a proposed cryptocurrency market structure bill.

The legislation aims to establish clear federal crypto regulations and consumer protections, with key provisions including customer fund segregation, federal registration requirements, enhanced disclosures, and bankruptcy protections for consumers.

Smith noted that the window for action is narrowing, as the fall legislative calendar includes government funding deadlines, consideration of the National Defense Authorization Act (NDAA), the October election period, and a potentially unpredictable lame-duck session.

The CLARITY Act has bipartisan support, with over 70 House Democrats previously supporting a related framework, and 18 Senate Democrats backing the GENIUS Act last year. Smith argued that passing the legislation would strengthen U.S. leadership in digital asset regulation and discourage activity from moving offshore.