The crypto industry has intensified its push for the CLARITY Act after more than 200 companies and organizations signed a letter urging Senate leaders to schedule a floor vote, while analysts warn the bill is running short on time.
Summary
- Coinbase, Ripple, and 200+ crypto groups have urged the Senate to hold a CLARITY Act floor vote.
- Galaxy Digital cut its CLARITY Act passage odds to 60%, citing a shrinking legislative window.
- The bill cleared committee but still faces Senate debate, amendments, and scheduling hurdles.
According to Stand With Crypto, a coalition that includes Coinbase, Ripple, Kraken, Circle, Binance US, and Andreessen Horowitz, sent a joint letter to Senate Majority Leader John Thune and Senate Democratic Leader Chuck Schumer calling for immediate Senate consideration of the legislation. The effort was coordinated alongside the Blockchain Association, Crypto Council for Innovation, and The Digital Chamber.
In the letter, the signatories argued that the CLARITY Act would establish clear rules for digital asset markets, define regulatory responsibilities, create registration pathways for crypto businesses, and preserve protections for software developers.
The coalition stated that passing the bill would help keep innovation, investment, and jobs within the United States while supporting the country’s position in digital asset development.
Representing nearly 3 million advocates across all 50 states, Stand With Crypto has made the legislation one of its primary policy priorities. Separately, the Crypto Council for Innovation publicly confirmed its support for the letter and urged Senate leaders to move the bill forward as soon as possible.
Senate calendar emerges as the main obstacle
Although support for the bill continues to grow, recent assessments from industry analysts suggest the legislative timeline has become increasingly challenging.
According to Galaxy Digital head of research Alex Thorn, the firm’s estimated probability of the CLARITY Act becoming law this year has been reduced from 75% to 60%.
Thorn said the Senate must move the bill before lawmakers leave for their August recess, warning that the opportunity to complete the legislative process becomes much narrower afterward.
Thorn explained that the bill still requires Senate floor debate, an amendment process, and reconciliation between different committee versions before it can advance. He added that Senate leadership would likely need to allocate floor time in July for those steps to be completed before the recess begins.
Galaxy also identified ethics provisions and illicit finance language as unresolved policy issues that could affect support among senators who remain cautious about crypto legislation.
A separate assessment reported by crypto.news found that JPMorgan placed the odds of passage below 50%, adding to concerns that procedural constraints rather than outright opposition could become the biggest challenge facing the bill.
Political support continues to build
Despite those concerns, several influential lawmakers and administration officials have continued advocating for the legislation.
Following the Senate Banking Committee’s approval of the CLARITY Act, Senator Cynthia Lummis said the bill had successfully cleared the committee and that the next step was a vote before the full Senate. She argued lawmakers should continue pushing the measure forward rather than abandoning it after reaching this stage.
Support has also come from Treasury Secretary Scott Bessent and White House crypto adviser Patrick Witt, both of whom have publicly encouraged Congress to advance the legislation.
Meanwhile, Senate Banking Committee Chairman Tim Scott described the proposal as historic and said it would bring digital assets into a more transparent regulatory framework.
At the same time, competing legislative priorities may complicate the schedule. Several industry groups noted that Senate attention has increasingly turned toward artificial intelligence regulation, prompting crypto advocates to call for debate, amendments, and voting on the CLARITY Act without further delay.
With committee approval already secured, the bill’s immediate future now depends on whether Senate leaders can dedicate floor time, resolve remaining policy disputes, and maintain enough bipartisan support to clear the chamber before the congressional calendar becomes even more restrictive.
