The CLARITY Act, crypto market-infrastructure legislation, is approaching a floor vote in the US Senate. While the typical negotiations continue between proponents and those seeking to undermine digital asset innovation, Senate Republicans have been working to highlight the benefits of the bill.
The most recent version of the legislation added new language aimed at stemming criticism of government members benefiting from crypto (e.g., President Trump and his family), but it is not entirely clear whether the update was sufficient to avoid a filibuster by Democratic senators.
Below is a “Myth vs. Fact” document on the CLARITY Act, published by the Senate Banking Committee, to counter detractors who rely heavily on hyperbole to stop the bill’s advance.
Beyond outlining which regulator has oversight over which aspect of digital assets, the bill establishes new rules to protect consumers and businesses, including mandated disclosures and anti-fraud/anti-money laundering requirements, by closing existing regulatory gaps.
A Senate motion to proceed with the bill is expected this week, with a potential vote as soon as August 3, 2026.
