Solana Institute Demands Senate Vote on CLARITY Act Before August Recess

The Solana Policy Institute has called on Senate leaders to hold a vote on the CLARITY Act before the August recess. The institute stated that the bill would provide regulatory clarity, consumer protections, and legal certainty for developers and institutions.

In a letter addressed to Senate Republican Leader John Thune and Senate Democratic Leader Chuck Schumer, Institute President Kristin Smith emphasized the role of developers in shaping modern market infrastructure. She noted that Solana led the world in new developer growth in 2024, expanding 84 percent year-over-year.

The CLARITY Act would divide oversight of digital assets between the SEC and the CFTC, with assets classified as securities remaining under SEC oversight and decentralized digital commodities falling under the CFTC's jurisdiction. The legislation includes provisions related to consumer and investor protections, anti-money laundering compliance, cybersecurity standards, and legal protections for certain blockchain software developers.

Senate staff, lawmakers, and the White House have spent years refining the legislation, which is about 99 percent finalized. Smith warned that delaying the vote risks pushing the legislation into a crowded fall calendar, reducing its chances of passage.