Over 200 Crypto Organizations Urge Senate Vote on CLARITY Act

Stand With Crypto and over 200 crypto organizations, including Coinbase, Circle, Ripple, and Binance.US, urged Senate leaders on Monday to advance a vote on the CLARITY Act, a long-awaited digital asset market structure bill. The letter to Senate Majority Leader John Thune and Minority Leader Chuck Schumer emphasized the legislation's bipartisan support following the Senate Banking Committee's markup session.

A full Senate vote is expected within weeks, with potential passage by early July, according to Patrick Witt, executive director of the President's Council of Advisors for Digital Assets. However, Galaxy's head of firmwide research, Alex Thorn, lowered his odds of passage to 60% from 75%, citing a tightened Senate calendar and stalled negotiations on outstanding issues, including ethics guardrails.