McCormick says Democrats are stalling the crypto market structure bill. A revised draft bans officials from crypto promotion. The Senate floor vote could come this week.
Senator Dave McCormick called Friday for an immediate Senate vote on the Clarity Act, the long-stalled crypto market structure bill. Speaking to Fox Business, the Pennsylvania Republican said some Democrats are deliberately delaying the legislation.
“The Democrats are starting to think, ‘We don’t want to give it a win,’” McCormick said.
On X, he wrote: “The time for delay is over. Bring the Clarity Act to the Senate Floor for a vote and let every senator go on the record. America needs clear rules that protect consumers and keep digital asset innovation and jobs here at home.”
The bill, which would establish federal rules for digital assets, has been debated since last year. Progress halted in 2025 after banking chiefs raised concerns over stablecoin yield and ethics. A revised draft circulated last week bans officials and their families from issuing or promoting crypto – a change aimed at addressing earlier opposition.
Republicans now hope to win enough Democratic votes to pass the bill. Some bipartisan support exists, but Senator Elizabeth Warren and a group of Democrats last week argued the current draft falls short. Warren said the bill would let President Donald Trump profit from crypto and could benefit criminals.
Major institutions, including Fidelity and Goldman Sachs, have backed the revised text. Goldman Sachs CEO David Solomon previously endorsed the CLARITY Act as a way to clarify stablecoin rules, despite the bank’s broader concerns about crypto rewards. Crypto lobby groups and several Republican and Democratic lawmakers have also voiced support.
Trump’s own crypto ventures – including meme coins and the decentralized finance protocol World Liberty Financial – have drawn criticism from both parties over potential conflicts of interest. The White House has denied any wrongdoing.
McCormick’s call sets up a test of bipartisan unity. No date has been set for a Senate floor vote.
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