Key Points Crypto groups urge Senate to pass CLARITY Act before summer recess. Bill would define SEC and CFTC oversight of digital assets. A coalition of more than 100 crypto firms is urging
A coalition of more than 100 crypto firms is urging the U.S. Senate to pass the Digital Asset Market Clarity Act (H.R. 3633) before lawmakers break for summer recess.
The effort is led by The Digital Chamber and supported by other industry associations seeking federal market structure rules for digital assets.
The Senate Banking Committee advanced the bill in a 15–9 bipartisan vote on May 14, 2026, marking a key procedural step.
The CLARITY Act previously passed the House of Representatives in July 2025 with a 294–134 vote, establishing bipartisan backing before moving to the Senate.
Before reaching the Senate floor, the Banking Committee’s version must be reconciled with a separate measure approved by the Senate Agriculture Committee.
The bill would divide oversight between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC).
It introduces statutory definitions such as “digital commodities” and outlines a “mature blockchain” test to determine when a token transitions from securities to commodities jurisdiction.
This structure would replace the current case-by-case enforcement approach, under which the SEC applies the Howey test without formal safe-harbor provisions.
Supporters say clearer jurisdictional boundaries would allow asset managers, payment companies, and fintech firms to operate with more regulatory certainty.
The legislation also addresses stablecoin treatment, which industry participants argue is necessary for broader payment integration.
Senate rules require 60 votes to overcome a filibuster, meaning additional Democratic support would be necessary for final passage.
Industry organizations state that the bill would move digital asset oversight from enforcement-driven actions to a statutory framework subject to congressional authority.
Advocates have also referenced concerns about regulatory pressure on crypto firms, arguing that formal legislation would provide clearer guardrails for agencies.
Opponents, including some Democratic lawmakers, have raised questions about consumer protection, ethics provisions, and potential regulatory gaps.
Among the companies backing the effort are Coinbase and other major crypto platforms, alongside venture and blockchain-focused firms.
Supporters contend the legislation would reduce regulatory uncertainty affecting digital assets such as Bitcoin (BTC) and Ethereum (ETH).
Whether the measure advances to a floor vote before August will depend on leadership scheduling and confirmed bipartisan vote counts.
