The big crypto bill has just removed another layer. It’s called the Clarity Act, and it’s now up for a vote before the full Senate. The Clarity Act is 616 pages long. It regulates digital assets such as Bitcoin and other crypto tokens. Currently, the US does not have a clear federal law on crypto and this bill would create one.
Under the bill, the CFTC will oversee many crypto tokens. The SEC would still hold tokens that act as securities, like corporate stocks. The bill also adds anti-money laundering laws, protects everyday users, and establishes clear procedures for what happens if a crypto company fails.
The bill already passed the House in July 2025. It passed the Senate Banking Committee in May 2026. It now awaits a vote from the full Senate.
Why Supporters Want It to Continue
Coinbase CEO Brian Armstrong said the investment is the result of thousands of hours of work from across the political spectrum. He said the lack of regulation there allows bad actors, such as the FTX exchange, to harm everyday customers. Without clear regulations, he said, much of the crypto industry has moved offshore, outside of US oversight.
Ripple’s chief legal officer, Stuart Alderoty, called the fee a measure to protect consumers. He added that they would add real tools to law enforcement and government officials to go after criminals. Ripple CEO Brad Garlinghouse also supported the bill, saying it doesn’t need to be perfect to pass.
Sponsors also target people’s opinions. He cites polls that show a majority of American voters think Congress should have passed crypto legislation by now.
Where the Pushback Is Coming From
Not everyone is on board. Some of the Democrats in the Senate said they oppose the current action. Reports indicate they are still in talks with Republicans to reach a deal that can pass.
Some critics say the bill’s procedural rules don’t go far enough, because they can’t be enforced by state attorneys general. Some argue that the code of ethics should deal with crypto’s past, not just the future. Supporters of the bill respond that they have no complaints. They say there is no federal law applicable to the state’s attorneys general, and that punishing past actions could create legal problems.
What Happens Next
Supporters of the bill are pushing for a vote before Congress leaves for its August recess. Whether this timeline works depends on whether Senate Democrats and Republicans can agree on a final version soon.
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