Crypto Groups Urge Senate Floor Vote on CLARITY Act
More than 200 crypto firms and industry groups urged U.S. Senate leaders to schedule a floor vote on the CLARITY Act before the November midterms, warning delays could miss the 2026 legislative window. In a letter shared by Stand With Crypto, signatories including the Blockchain Association, Crypto Council for Innovation and The Digital Chamber asked Majority Leader John Thune and Minority Leader Chuck Schumer to “bring the Clarity Act to the Senate floor without delay.”
The CLARITY Act would set the SEC vs CFTC framework for crypto regulation, but Senate progress remains stalled over stablecoin and platform rules. Banking groups want restrictions on stablecoin yields (a ban on platforms offering stablecoin yield), while crypto advocates seek stronger developer protections for decentralized platforms. Lawmakers are also negotiating ethics and illicit-finance provisions, and the bill needs at least 60 votes to pass without a prolonged process.
Timing is tightening. Galaxy Digital cut its 2026 passage probability to 60% (from 75%), saying the Senate needs to clear key steps—including amendments—before the late-July August recess, after which the window “effectively closes.” Analysts also note no floor time has been scheduled yet ahead of the midterms, adding near-term policy uncertainty for risk assets and stablecoin-adjacent markets.
Bearish
The CLARITY Act timeline is slipping and floor time is not yet set, increasing policy uncertainty. Disputes over stablecoin yields (banking-group restrictions vs industry developer protections) and unresolved ethics/illicit-finance provisions raise the risk of further delay and a harder path to the 60-vote threshold. In the short term, traders often price in “wait-and-see” until procedural milestones are scheduled, which can pressure stablecoin-adjacent instruments and broader risk sentiment. In the long run, passage odds (down to 60% for 2026 per Galaxy Digital) suggest regulation may take longer than some expect, keeping volatility elevated around SEC/CFTC clarity expectations.