The US CLARITY Act, which aims to provide the US crypto industry with greater regulatory clarity, is set to be voted on in the Senate Banking Committee on Thursday.
On Friday, Senate Banking Committee Chairman Tim Scott confirmed that the bill would go to a vote on Thursday, prompting a strong reaction from the crypto industry, which has been waiting months for a new margin date.
The bill, introduced in July 2025, was expected to advance earlier this year but stalled in January after Coinbase withdrew its support for the bill, citing several concerns, including a lack of legal protections for open source software developers, stablecoin yield banand decentralized finance (DeFi) regulations.
CLARITY Act is “like Donkey Kong”: Coinbase exec
“It’s like Donkey Kong,” Paul Grewel, Coinbase’s chief legal officer he said in X post on Friday, after the post. Meanwhile, Coinbase Chief Policy Officer Faryar Shirzad he said in X announced that it was a “major step forward” and that the legislation is essential “to protect consumers, support innovation and ensure that this technology is developed in the United States, not abroad.”
Source: Faryar Shirzad
Uncertainty around crypto regulation during the Joe Biden administration, with crypto skeptic Gary Gensler leading the US Securities and Exchange Commission (SEC), has been linked to reports of crypto companies moving offshore to more crypto-friendly jurisdictions. Industry participants argued that this harmed innovation in the US.
US Senator and pro-crypto advocate Cynthia Lummis he said in the X post, “Let’s get the Clarity Act out of the Banking Committee on Thursday!”
Industry leaders predicted that there would be a margin
It comes just days after Kara Calvert, vice president of american politics at the Coinbase crypto exchange, told attendees at the Consensus 2026 conference that she expects “an increase next week.”
Related: ‘Visible Flaws’ in Bitcoiner’s Mid-Market Forecast: Analyst
Calvert said the bill needs at least 60 votes to pass the Senate and that the CLARITY bill needs bipartisan support to become law.
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