A big crypto bill just cleared another step. It’s called the Clarity Act, and it’s now ready for a vote in front of the whole Senate. The Clarity Act is 616 pages long. It sets rules for digital assets like Bitcoin and other crypto tokens. Right now, the U.S. has no clear federal rulebook for crypto and this bill would create one.
Under the bill, the CFTC would oversee most crypto tokens. The SEC would still handle tokens that act more like securities, such as company stock. The bill also adds rules to fight money laundering, protect everyday users, and set clear steps for what happens if a crypto company goes bankrupt.
The bill already passed the House back in July 2025. It passed the Senate Banking Committee in May 2026. Now it’s waiting for a vote from the full Senate.
Why Supporters Want It Passed
Ripple’s chief legal officer, Stuart Alderoty, called the bill a consumer protection measure. He said it adds real tools for law enforcement and state officials to go after bad actors. Ripple CEO Brad Garlinghouse backed the bill too, saying it doesn’t need to be perfect to be worth passing.
Supporters also point to public opinion. They cite polling showing most American voters think Congress should have passed crypto rules by now.
Where the Pushback Is Coming From
Not everyone is on board. Some Democrats in the Senate say they oppose the current draft. Reports indicate they are still negotiating with Republicans to try to reach a deal that can pass.
Some critics say the bill’s ethics rules don’t go far enough, since they aren’t enforceable by state attorneys general. Others argue the ethics provisions should have addressed past crypto activity by officials, not just future conduct. Supporters of the bill respond that neither complaint holds up. They say no current federal ethics law is enforced by state attorneys general, and that penalizing past conduct would raise constitutional problems.
What Happens Next
Backers of the bill are pushing to get a vote done before Congress leaves for its August recess. Whether that timeline holds depends on whether Senate Democrats and Republicans can agree on a final version soon.
