Congress is running out of time to pass the CLARITY Act as the Senate's legislative calendar becomes increasingly crowded.
Blackrock has expressed support for the CLARITY Act in a statement provided to Politico's Morning Money. Senior Managing Director and Global Head of Market Development Samara Cohen characterized the Act as:
"...an important step toward establishing a regulatory framework for digital assets that puts investors first."
She added that the bill "will help the United States shape a new era of market structure," fostering innovation while maintaining transparency, resiliency, and investor protection.
Her endorsement bolsters growing support from the traditional financial sector for federal cryptocurrency legislation. Fidelity's call for the Senate to approve the bill brought another major asset manager on board the proposal, while backing from Goldman Sachs CEO David Solomon and Charles Schwab's view that the bill could accelerate digital asset adoption have broadened Wall Street's support for clearer digital asset rules.
Time for Senate Passage is Dwindling
The Senate's work continues despite a tightening legislative schedule. Last week, Republican senators unveiled an updated text of the CLARITY Act, reflecting the collaborative work of the Senate Banking and Agriculture Committees, stating that the coming weeks represent the best opportunity in years to pass comprehensive legislation regulating the digital asset market structure.
U.S. Senator John Thune (R-SD), the Senate Majority Leader, stated that Senate work would likely extend beyond the August recess, emphasizing that lawmakers have little time left to advance the bill this year.
Thune's comments amplified concerns that the Senate's packed legislative schedule could narrow the window for passing the CLARITY Act this year. With Republicans holding a 53-47 majority, most bills still require at least 60 votes to overcome procedural hurdles, making passage contingent on bipartisan support. These complexities have prompted some political analysts to downgrade the bill's chances of passing this year to 30%.
Crypto Advocates Ramp Up Pressure on Congress
Stand With Crypto has renewed pressure on Congress, highlighting nearly one million constituent contacts as lawmakers have dwindling time to advance the CLARITY Act. The advocacy group, which claims roughly three million registered members, reported over 925,000 emails sent to Congress in 2025, and over 1.1 million contacts since its founding.
The crypto advocacy group is also raising the political stakes for senators considering the bill. Stand With Crypto stated that every Senate vote on the CLARITY Act will be added to its public Congressional Scorecard, allowing its roughly three million registered supporters to see how lawmakers voted. The organization noted the scorecard is meant to hold elected officials accountable on digital asset policy as the bill moves through the Senate.
What the CLARITY Act Changes for Investors
Under the proposal, the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) would receive clearly defined authority covering different segments of the digital asset market. Issuers utilizing certain exemptions would also be required to disclose information about their blockchain systems, operations, and token distribution.
Investors would gain access to more standardized information before purchasing covered digital assets, while compliant companies would receive clearer registration and trading procedures. These requirements could affect which tokens reach regulated platforms, how exchanges handle customer assets, and what crypto services traditional financial institutions offer.
