Crypto lobby presses Senate to act on CLARITY before August

US crypto firms are pressing the Senate to move on the CLARITY Act before lawmakers leave for the August recess, a window that could shape how digital assets are regulated in the country. Supporters want a floor vote before the calendar tightens and the bill runs into midterm politics.

The push has become more visible in Washington. Ripple sent a "Clarity Truck" through the capital, and earlier this month more than 200 companies and advocacy groups asked Senate leaders John Thune and Chuck Schumer to schedule a vote. Signers included Coinbase, Ripple, Kraken, Circle, Binance.US, and Andreessen Horowitz.

The bill has already cleared major steps. The House passed its version in July 2025, and the Senate Banking Committee advanced a revised version in May. The proposal would split oversight between the SEC and CFTC, keep securities offerings under SEC authority, and place spot-market intermediaries for digital commodities under CFTC supervision. It also builds on the GENIUS Act stablecoin framework by banning interest or yield paid solely for holding a payment stablecoin, while allowing some activity-based rewards.

Talks are still stuck on anti-money-laundering rules, especially Section 604, which would protect some noncustodial software developers from being treated as money transmitters. Ethics rules for senior officials and unresolved DeFi language could also slow any Senate vote.