Clarity Act Vote Slips as Senate Picks Trump Picks Over Crypto Rules

Senate consideration of the Clarity Act slid to the back of the queue on July 28, after leadership chose to prioritize 74 Trump administration nominations and a Russia sanctions bill. Florida Congressman Mike Haridopolos, a House Financial Services Committee member, called the delay a threat to U.S. leadership in digital assets.

"The bill would give long-awaited regulatory clarity for the crypto sector," Haridopolos said on Fox Business' Mornings with Maria. He argued that without it, blockchain companies and investment capital will move overseas.

The Clarity Act cleared the House in July 2025 on a 294-134 vote. It would split digital-asset oversight between the SEC and the CFTC, a division that supporters say would tighten investor protection and give crypto businesses a predictable rulebook. Senator Cynthia Lummis has pushed for a floor vote before the August 8 recess. Majority Leader John Thune said he would force a vote even without the 60 votes needed to break a filibuster, putting every senator on the record.

The legislative calendar has shrunk. With the Senate now working through nominations and the Lindsey O. Graham Sanctioning Russia Act of 2026, the window for crypto legislation before the break is narrow. New York Attorney General Letitia James warned the bill would curb states' ability to fight crypto fraud. Some Democrats also flagged ethics provisions in the Senate draft.

Industry backing remains broad. Charles Schwab, Coinbase, Ripple, BlackRock, Fidelity, Goldman Sachs, and the Digital Chamber all support the measure. They argue that regulatory certainty is the missing piece for institutional investment and ETF growth. Supporters warn that pushing the bill into 2027 would let competing markets gain ground.

Goldman Sachs CEO has publicly backed the CLARITY Act as banks fight stablecoin rewards. The bank itself carries an Alpha Score of 62, a Moderate label in the Financials sector.