CLARITY Act failure spurs crypto PAC spending in key US Senate races

CLARITY Act failure — The recent failure of a major US crypto bill is expected to trigger significant political spending by industry groups in the upcoming midterm elections, with a key Senate race in Ohio as a primary target.

Last week, the US Senate voted 49-50 against advancing the Digital Asset Market Clarity (CLARITY) Act, severely limiting its chances of passage before the next congressional session. In response, crypto-aligned political action committees are preparing to influence races where the outcome could determine the bill’s future. The industry-backed PAC Fairshake, supported by Coinbase and Ripple Labs, now plans to spend $30 million opposing Senator Sherrod Brown in Ohio.

Brown, who chaired the Senate Banking Committee, has been a vocal critic of crypto policy. Industry advocates view his potential reelection as a major obstacle to another vote on the CLARITY Act. The advocacy group Stand With Crypto has warned that lawmakers who voted against the bill will face “consequences” at the ballot box.

This political strategy follows a 2024 playbook where Fairshake spent over $130 million. While recent FEC filings show no new expenditures post-vote, the industry is signaling a clear intent to financially support candidates it views as allies in Congress.