Key Takeaways
Blackrock described the CLARITY Act as a framework supporting innovation and investor protection.Senate leaders are racing to advance the bill before the legislative calendar grows more crowded.Senator Thune expects the Senate’s work to extend beyond its approaching August recess.
Blackrock Adds Wall Street Pressure
Congress is running out of time to pass the CLARITY Act as the Senate’s legislative calendar grows more crowded.
Blackrock endorsed the CLARITY Act in a statement provided to Politico’s Morning Money, with Senior Managing Director and Global Head of Market Development Samara Cohen describing the legislation as:
“… an important step toward establishing a regulatory framework for digital assets that puts investors first.”
She added that the bill would “help the United States shape the next era of market structure” by supporting innovation while preserving transparency, resilience, and investor protections.
Her endorsement adds to growing support from traditional finance for federal cryptocurrency legislation. Fidelity’s call for Senate approval placed another major asset manager behind the proposal, while Goldman Sachs CEO David Solomon’s backing and Charles Schwab’s view that the legislation could accelerate digital asset adoption expanded Wall Street’s support for clearer digital asset rules.
The Senate’s Legislative Window Narrows
The Senate’s work has continued even as the legislative calendar tightens. Last week, Senate Republicans released updated CLARITY Act text reflecting the merged work of the Senate Banking and Agriculture committees, saying the coming weeks represent the best opportunity for years to enact comprehensive digital asset market structure legislation.
U.S. Senator John Thune (R-SD), the Senate majority leader, said the Senate’s work is likely to extend beyond the August recess, underscoring the limited time lawmakers have to advance the bill this year.
Thune’s comments have reinforced concerns that the Senate’s crowded legislative calendar could narrow the window for action on the CLARITY Act this year. With Republicans holding a 53-47 majority, most legislation still requires at least 60 votes to overcome procedural hurdles, leaving the bill dependent on bipartisan support. Those challenges prompted some policy analysts to reduce the bill’s estimated chances of passage this year to 30%.
Crypto Advocates Increase Pressure on Congress
Stand With Crypto renewed pressure on Congress by highlighting nearly one million contacts from supporters as lawmakers face a narrowing window to advance the CLARITY Act. The advocacy group, which says it has about three million registered members, reported more than 925,000 emails 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 weighing the legislation. Stand With Crypto said every Senate vote on the CLARITY Act will be added to its public congressional scorecard, allowing roughly three million registered advocates to see how lawmakers voted. The organization said the scorecard is intended 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 defined responsibilities covering different segments of the digital asset market. Issuers using certain exemptions would also face disclosure obligations involving their blockchain systems, operations, and token distributions.
Investors could receive more standardized information before purchasing covered digital assets, while compliant businesses would obtain clearer registration and trading pathways. Those requirements could influence which tokens reach regulated platforms, how exchanges handle customer assets, and which cryptocurrency services traditional financial institutions offer.
