Stand With Crypto's Endorsements May Not Be Enough to Pass CLARITY Act

The CLARITY Act, a digital-asset market-structure bill, failed to clear a procedural vote in the Senate on September 15, falling short of the required three-fifths majority by eleven votes. The motion to proceed to H.R. 3633 received 49 yes votes and 50 no votes, with one senator absent.

Stand With Crypto, a Coinbase-backed advocacy organization, endorsed its first three Senate candidates on September 30, including incumbent Republican Jon Husted in Ohio, Republican House member Ashley Hinson in Iowa, and Democratic House member Chris Pappas in New Hampshire. The group's endorsements aim to alter the composition of the next Senate and raise the political cost of opposing its policy goals.

The endorsed candidates' records on digital assets are mixed. Husted has already voted yes on a previous version of the bill, while Ernst, the current senator from Iowa, also voted yes. Pappas's victory could potentially replace a no vote with a possible yes. However, these endorsements alone do not guarantee additional votes for the CLARITY Act.