The Crypto Council for Innovation, Digital Chamber and Blockchain Association wrote to US Senate leaders on Friday calling for the chamber to prioritize \u201cfloor consideration\u201d of the Digital Asset Market Clarity (CLARITY) Act.<\/p>\n
In a Friday letter to Senator Majority Leader John Thune and Minority Leader Chuck Schumer, the three cryptocurrency advocacy groups urged<\/a> consideration of the CLARITY Act, which Republican lawmakers have been pushing for a vote before the chamber breaks for state work periods in August.\u00a0Although the bill has advanced through the Senate banking and agriculture committees, some lawmakers said they planned to withhold their votes until key provisions were addressed.<\/p>\n \u201c[We] recognize that constructive bipartisan negotiations remain underway to secure and expand support for this critical piece of legislation,\u201d said the letter. \u201cWe appreciate these good-faith efforts of Senators on both sides of the aisle, and we encourage those discussions to continue.\u201d<\/p>\n Source: <\/em>Crypto Council for Innovation<\/em><\/a><\/p>\n The CLARITY Act, expected to be one of the most significant pieces of legislation impacting the crypto industry, needs 60 votes to pass in the Senate, where Republicans hold a 52-47 majority over Democrats. Republicans released the text<\/a> of the market structure bill earlier this week, including ethics provisions that barred public officials from issuing or sponsoring cryptocurrencies, but many Democrats said that the measures don\u2019t go far enough to prevent corruption.<\/p>\n Related: <\/strong><\/em>Goldman Sachs CEO backs \u2018not perfect\u2019 CLARITY Act as vote expected soon<\/strong><\/em><\/a><\/p>\n \u201cWhatever piece of s— they sent back to us, that was not a serious effort,\u201d Senator Ruben Gallego said on Thursday<\/a> regarding the ethics provisions, according to Politico.<\/p>\n Gallego added:<\/p>\n \u201d[…] After all the work that we\u2019ve done with our Republican colleagues, that they would take the months and months of work and somehow interpret that and turn around and think what they offered was even remotely close.\u201d<\/p><\/blockquote>\n White House crypto adviser on Democratic opposition to CLARITY ethics rules. Source: <\/em>Patrick Witt<\/em><\/a><\/p>\n \u201cThe status quo in the US isn\u2019t working,\u201d said<\/a> Coinbase CEO Brian Armstrong in a Wednesday X post. \u201cThere\u2019s no federal framework, so bad actors like FTX can harm US customers and much of the industry has gone offshore totally outside US purview. This bill fixes that with strong consumer protections, real tools for law enforcement, and a path for America to lead in this industry.\u201d<\/p>\n Orest Gavryliak, chief legal officer of DeFi platform 1inch, spoke<\/a> about the bill on Cointelegraph\u2019s Chain Reaction podcast on Friday, saying that CLARITY would help recognize a framework for non-custodial protocols rather than \u201cregulating with enforcement.\u201d<\/p>\n \u201cSome regulators, they try to be friendly to non-custodial protocols or projects, they still try to fit us in into the custodial frameworks and make us use custodial solutions to solve problems that they used to in this legacy custodial or traditional finance, which is wrong [and] doesn\u2019t apply to us at all,\u201d said Gavryliak. \u201cThat\u2019s why it\u2019s very important for CLARITY to pass.\u201d<\/p>\n If lawmakers are unable to hold a vote for CLARITY before the Senate breaks in August, it could push consideration into the weeks before the 2026 US midterms, potentially complicating discussions. As of Friday, Kalshi offered<\/a> users event contracts with a 40.3% chance that the bill would pass before the Senate\u2019s August recess.<\/p>\n![\"\"](\"https:\/\/s3-images.ctmedia.io\/media\/content\/screenshot-2026-07-24-at-114216-am.png\")
<\/figure>\nIndustry leaders weigh in on CLARITY ahead of potential floor vote<\/h2>\n