Senate Has 200+ Crypto Pen Pals & Still No Date: CLARITY Act Sits on the Bench 🏛️

More than 200 crypto companies, trade groups, and organizations signed a letter sent on June 7–8 to Senate Majority Leader John Thune and Minority Leader Chuck Schumer calling on them to bring the CLARITY Act to the Senate floor "without delay." The letter was organized by Stand With Crypto, the Blockchain Association, the Crypto Council for Innovation, and The Digital Chamber. Signatories include Coinbase, Ripple, Kraken, Circle, Binance US, and Andreessen Horowitz, with Stand With Crypto citing a network of nearly 3 million advocates across all 50 states. Separately, Coinbase, Kraken, Bitwise, a16z Crypto, Uniswap, Solana Labs, Anchorage Digital, Galaxy and more than 60 other firms sent a letter urging the Senate to pass the CLARITY Act with the Blockchain Regulatory Certainty Act (BRCA) developer protections intact, commending the Senate Banking Committee for advancing "the critical clarifications for software developers" and asking senators to "pass the Clarity Act with the bipartisan BRCA as advanced by the Committee."

The CLARITY Act cleared the Senate Banking Committee 15–9 on May 14 and was placed on the General Orders Calendar by June 1, but no floor vote has been scheduled. The bill would outline how the Securities and Exchange Commission and the Commodity Futures Trading Commission regulate digital assets, and its Senate versions concerning commodities and securities law must be reconciled before debate. Senate Banking and Agriculture Committees have each advanced their respective versions. Bank groups have pushed to include a ban on platforms offering stablecoin yields, while the crypto industry has lobbied for decentralized finance developer protections, with both issues driving months of negotiation.

The bill's path has drawn explicit White House interest: Treasury Secretary Scott Bessent and White House Crypto Advisor Patrick Witt have publicly called for the legislation to advance in time for a July 4 signing by President Donald Trump, while Senator Cynthia Lummis has told CNBC that lawmakers are addressing ethics and illicit finance concerns that could cost the bill support. Bank industry opposition to stablecoin yield provisions and Senate focus on artificial intelligence legislation have also been cited as factors drawing floor time away from the measure.

Odds of the bill becoming law in 2026 have been cut by Galaxy Digital to roughly 60% from 75%, with the firm stating the bill must pass the Senate before the August recess in late July because "after that, the window effectively closes." Separately, Polymarket showed CLARITY Act approval odds for 2026 falling to 48% on Wednesday from 55% earlier, amid reported conflicts among lawmakers over three "major sticking points." Lawmakers have flagged that the legislation will need amendments on ethics and policing illicit finance to reach the 60 votes required to clear a cloture motion.