Midterm Elections Loom: Crypto Advocates Press Lawmakers on CLARITY Act

Crypto investors and businesses are closely watching the CLARITY Act as lawmakers face pressure to advance digital asset rules before the midterm elections. With just 100 days left until the vote, supporters of the legislation argue that lawmakers have a limited window to pass the bill.

The CLARITY Act aims to establish clearer rules for digital assets by defining regulatory responsibilities between the SEC and CFTC. The framework could determine whether certain digital assets are treated as securities or commodities under federal oversight.

According to Stand With Crypto, nearly 70% of surveyed crypto owners believe that a candidate's crypto stance will factor into their vote, while almost 8 in 10 said they are likely to vote. The group also found that 73% of crypto owners are closely watching which crypto policies lawmakers support.

Crypto advocates have generated over 1 million contacts with Congress supporting the legislation, highlighting the growing political focus surrounding digital asset regulation. Supporters argue that the bill could provide regulatory clarity for the industry after years of uncertainty and encourage companies to build in the US.