This week, more than 200 cryptocurrency companies urged the U.S. Senate to pass the CLARITY Act, a regulatory bill for digital assets, before the November midterm elections. The coordinated push counts as one of the largest public lobbying efforts from the crypto industry this year.
A unified industry voice
The coalition spans exchanges, miners, wallet providers, and startups. Their message to lawmakers is direct: without a clear federal framework, the U.S. will keep losing crypto businesses to jurisdictions that have already passed digital asset laws. The group argues that the current state-by-state patchwork and enforcement-driven approach hurts both companies and retail users.
The CLARITY Act is designed to create a single national standard for how digital assets are classified and regulated. Supporters say that would end years of ambiguity over which agency — the SEC or the CFTC — has authority.
The midterm clock
The November elections set a hard deadline. If the Senate doesn't move the bill over the coming months, the legislative process resets when the next Congress convenes in January. That means new hearings, new markups, and fresh floor votes — a timeline that could stretch years.
Industry backers are betting that election-year politics can break the logjam. With both parties courting crypto voters and donors, there's a narrow window for bipartisan momentum. But the calendar is tight: the Senate faces a summer recess in August and a fall campaign season that will consume floor time.
No markup has been scheduled yet for the CLARITY Act in the Senate Banking Committee. The industry is tracking every procedural step, aware that the opportunity could close fast.
