More than 100 cryptocurrency industry companies and organizations, led by the Digital Chamber, the Crypto Council for Innovation, and the Blockchain Association, have stepped up their political pressure on the U.S. Senate to push for passage of the CLARITY Act. This coalition viewed passage of the law as the last realistic opportunity for the industry to ensure clarity in federal regulations before it loses momentum in Congress.
Although the Senate Banking Committee approved the bill in mid-May after months of bipartisan negotiations, the real battle for a vote on the floor has yet to begin.
The risks seem very tangible; For platforms like Coinbase, Kraken, and Gemini, the law directly protects fiat on- and off-ramps, which have been subject to informal banking pressures that have stifled them for years.
Popcorn or Sour Patch Kids? Celebrity tennis matches? And a clear call for Senate action on digital assets. @RepDonDavis joined @taylorjbarr on the Hill . pic.twitter.com/pYlTR6D4Pe
– The Digital Chamber (@DigitalChamber) May 26, 2026
Shares of crypto-related companies rose significantly after the committee vote, but analysts have already begun pointing out the procedural hurdles that remain before the law reaches the president’s desk for his signature.
In an April 23 letter from the coalition to the Senate Banking Committee, the central problem was clearly defined; The companies have accused federal regulators, including the Federal Reserve, the Federal Deposit Insurance Corporation (FDIC), and the Office of the Comptroller of the Currency (OCC), of carrying out what the industry calls “Operation Choke Point 2.0.” It is an informal campaign to pressure banks into abandoning crypto customers without establishing official rules, following required legal procedures, or leaving a paper trail that human rights groups can challenge in court.
The CLARITY Act would force these practices into the open by requiring formal regulatory processes that replace the current system of oversight letters and vague guidance documents.
Coalition requirements and opportunities to mobilize votes for the CLARITY Act
Among the more than 100 signatories to the April letter are notable names such as Coinbase, Circle, Kraken, Ripple, ConsenSys, Anchorage Digital and Galaxy Digital, as well as venture capital firms such as Andreessen Horowitz and Paradigm. This alliance represents a broad spectrum that includes institutional infrastructure, venture capital and consumer platforms.
The academic chapters of Stand With Crypto have also joined in, suggesting that the campaign runs on two tracks: high-level institutional pressure and grassroots pressure from the voting base.
The Senate Banking Committee advanced the Clarity Act with a bipartisan vote.
But the fight is not over. The full Senate must still vote YES.
Call your senators NOW and tell them to vote YES on clarity.– Support crypto
(@standwithcrypto) May 26, 2026
Digital Chamber’s crypto banking campaign has focused on undecided senators, both on the banking committee and in the broader Democratic caucus. Support from both parties is considered a prerequisite for reaching the 60-vote threshold required to advance the bill in the House.
The CEO of the Crypto Council warned that if the law was not passed, the United States would risk losing its advantage in this global competition, an argument carefully crafted to please skeptical moderates by focusing on domestic competitiveness.
Treasury Secretary Scott Besent added institutional weight during a Senate hearing on the FY 2027 budget, where he argued that the CLARITY Act is crucial to maintaining U.S. fiscal leadership and the dollar’s status as the global reserve currency.
While this consensus between the administration and the industry lobby is a remarkable development, it has yet to allay Democrats’ fears that the law could weaken enforcement in an industry in which President Trump and his family have business interests.
Odds markets on the CLARITY Act showed how quickly the mood changed in the Senate, where the bill’s chances of passage fell sharply following earlier procedural setbacks.
The article Crypto Alliance Pressures US Senate to Approve CLARITY Act appeared first on Cryptonews Arabic.