More than 200 cryptocurrency companies and industry organizations are calling on the U.S. Senate to move forward with the CLARITY Act, warning that time is running out to pass the legislation.
A coalition led by crypto advocacy group Stand With Crypto sent a letter to Senate leaders on June 9, urging lawmakers to schedule a vote on the bill without further delays. The group argued that after months of bipartisan discussions and committee approvals, the legislation is ready for debate on the Senate floor.
Major industry organizations, including the Blockchain Association, the Crypto Council for Innovation, and The Digital Chamber, joined the effort. They believe the CLARITY Act would provide clear rules for digital assets, define the responsibilities of key regulators, and help keep crypto companies, jobs, and investment within the United States.
Supporters of the bill say the lack of clear regulations is creating uncertainty for businesses. They warn that continued delays could push innovation and investment to other countries with more established crypto frameworks.
Despite strong support from the industry, concerns are growing about whether the bill can pass before Congress breaks for its August recess. Analysts at Galaxy Digital recently lowered their estimate of the bill becoming law in 2026 from 75% to 60%, citing a shrinking legislative window and a busy political calendar ahead of upcoming elections.
Several issues are still being debated in Washington. Lawmakers continue to discuss rules surrounding stablecoin yields, ethics requirements, and measures aimed at preventing illicit financial activity. These unresolved topics could affect support among senators who remain cautious about crypto legislation.
Crypto supporters remain optimistic. Senator Cynthia Lummis said lawmakers are actively working through the remaining concerns, while Treasury Secretary Scott Bessent, White House crypto adviser Patrick Witt, and Senate Banking Committee Chairman Tim Scott have all publicly supported efforts to move the bill forward.
Before reaching a final vote, Senate negotiators must still reconcile different versions of the legislation and secure enough support to overcome procedural hurdles. With no vote currently scheduled, the crypto industry is increasing pressure on lawmakers to act before election-related priorities make it even harder to advance the bill.
For many in the industry, the coming weeks could determine whether the United States finally gets a comprehensive regulatory framework for digital assets or faces another lengthy delay.
