Crypto enters September with legislative policy gamble hanging by a thread

The crypto industry heads into September with its biggest legislative bet hanging in the balance, and little confidence the proposed bill will make it past the finish line.

The looming vote on the crypto market structure bill known as the Clarity Act is shaping up as a critical test for an industry that's spent years pushing Washington for clearer rules around digital assets. The bill would establish a framework for crypto, divide oversight between the Securities Exchange Commission and the Commodity Futures Trading Commission, set registration requirements and strengthen anti-money-laundering protections.

But despite efforts by crypto executives and President Donald Trump to excite investors and industry watchers about the possibility that the bill could become law this year, the mood is less optimistic among industry participants.

Many are resigned that the Clarity Act is dead in 2026.

"I personally am a bit pessimistic about the Clarity Act being passed," John Darsie, CEO of SALT, told CNBC at the Wyoming Blockchain Symposium in Jackson Hole in August. "Leading into the midterms, you don't often pass legislation of this magnitude." SALT calls itself an investment and networking platform and leadership forum.