US crypto industry's 'Clarity Act' faces risk of failing this year

Prospects for passing this year the market-structure bill known as the Clarity Act, the top legislative priority the U.S. crypto industry has pursued this year, have been shaken sharply in September.

On Sept. 1, CNBC reported that pessimism is spreading in the industry that it may be difficult to process the bill within 2026. The Clarity Act lays out a regulatory framework for the crypto market and splits digital asset oversight authority between the Securities and Exchange Commission and the Commodity Futures Trading Commission. It also includes registration requirements for crypto companies and anti-money laundering rules, and is seen as a core bill for regulatory standards the industry has sought for years.

The Senate was unable to hold a full vote before the August recess. Senate Republican Leader John Thune (존 튠) indicated a procedural vote to begin consideration of the bill on Sept. 15, shortly after lawmakers return. That is not a final passage vote, and floor consideration and further negotiations would remain. Issues include stablecoin reward provisions and ethics clauses surrounding President Donald Trump and his family's crypto interests.

Democratic Senator Ruben Gallego (루벤 가예고) of Arizona said at the Wyoming Blockchain Symposium that to get 60 votes, remaining issues must be settled along with appropriate ethics-related provisions, and that bipartisan agreement must come first. John Darsie (존 다시), chief executive of SALT, also told CNBC that he is personally somewhat pessimistic about passage and that bills of this scale do not often pass ahead of midterm elections.