More than 100 crypto firms and organizations — led by the Digital Chamber, the Crypto Council for Innovation, and the Blockchain Association — are lobbying the U.S. Senate to pass the CLARITY Act. The bill cleared the Senate Banking Committee in mid-May after months of bipartisan negotiations. Industry groups see it as the last realistic window to secure federal regulatory clarity before congressional momentum stalls.
The lobbying push
The coalition’s April 23 letter to Senate Banking accused federal regulators — the Fed, FDIC, and OCC — of running what it called 'Operation Choke Point 2.0,' an informal campaign to pressure banks into dropping crypto clients without formal rulemaking or due process. Signatories include Coinbase, Circle, Kraken, Ripple, ConsenSys, Anchorage Digital, Galaxy Digital, Andreessen Horowitz, and Paradigm.
The Digital Chamber’s Crypto Banking campaign is now targeting swing-vote senators on both the Banking Committee and the broader Democratic caucus. Bipartisan support is needed for a 60-vote threshold to overcome a potential filibuster.
Bessent makes the case
Treasury Secretary Scott Bessent argued at a Senate hearing that the CLARITY Act is 'critical to maintaining U.S. financial leadership and the dollar’s reserve status.' His backing gives the bill a high-profile administration ally, but it hasn’t erased Democratic doubts.
Democratic holdouts
Democratic concerns persist that the bill could weaken enforcement in a sector where President Trump’s family holds business interests. That tension is compounded by procedural hurdles — the bill still needs to reach the Senate floor and survive amendments before landing on the President’s desk.
Crypto-exposed equities surged on the committee vote, but the market’s optimism may be premature. Prediction market odds on the CLARITY Act have shown sharp shifts in Senate sentiment following recent procedural setbacks.
Floor fight ahead
No date has been set for a floor vote. The majority leader controls the calendar, and with a crowded legislative slate, the CLARITY Act could slip unless the lobbying push gains traction. For now, the industry’s best bet is winning over a handful of swing Democrats — a task that’s neither quick nor cheap.
