The Crypto Clarity Act, stalled in the Senate since passing the House last year, got a fresh update last week — a provision banning government officials and their families from issuing or promoting crypto. The move aims to address ethics concerns as Republicans try to rally bipartisan support before Congress recesses in August. Polymarket currently gives the bill a 35% chance of becoming law this year.
What the new provision does
The updated language explicitly bars federal officials and their immediate family members from issuing or promoting any digital asset. It's a direct response to criticism that the original bill didn't go far enough on conflicts of interest. The change was introduced last week, though the exact sponsor wasn't named in the facts.
Why it's still stuck
Despite passing the House with bipartisan support in 2025, the bill has languished in 2026. Some Democrats remain unhappy with the current form — the facts don't specify their exact objections, but banking lobbyists have raised concerns that crypto exchange yields could pull deposits away from traditional banks. That's a pressure point that's hard to ignore on Capitol Hill.
Who's pushing for it
Major institutions like Fidelity and Goldman Sachs have thrown their weight behind the Clarity Act. On Fox, Sen. Mike Haridopolos argued the bill helps grow the American economy and positions the U.S. as a center for digital assets and blockchain. His quote is the only direct one in the facts — no other spokespeople or analysts are on the record.
The timeline
Republicans are hoping to lock down enough Democratic votes this week. If they can't, the bill likely stalls until after the August recess — and the 35% Polymarket odds might start looking generous. The next concrete milestone is the Senate floor time before the break.
