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Regulation Via Decrypt

Crypto and Bank Lobbyists Target Senators Ahead of Clarity Act Vote

Clarity Act vote — Lobbying groups for the crypto industry and community banks are taking their fight over the Financial Innovation and Technology for the 21st Century Act, or Clarity Act, directly to U.S. senators’ home states ahead of a key procedural vote.

The Senate is scheduled to hold a cloture vote on September 15, a procedural step that would allow the legislation to move forward. In response, advocacy groups are intensifying their campaigns to pressure lawmakers in their local constituencies, according to a report.

The Clarity Act is a landmark bill that would establish a comprehensive regulatory framework for digital assets in the United States. Its passage is a top priority for the crypto industry, which seeks legal certainty, but it faces opposition from some banking groups concerned about its impact.

This state-level lobbying push underscores the high stakes of the upcoming vote, as both sides attempt to sway senators outside the Washington, D.C. beltway. The outcome will significantly influence the future of crypto regulation and market structure in the U.S.

Original reporting: Decrypt