Stand With Crypto says supporters have contacted Congress nearly 1 million times as it renews its push for the CLARITY Act. Fidelity, Goldman Sachs and a 382,000-member police organization joined the campaign this week, but no Senate floor vote has been scheduled and seven Democrats say the latest draft falls short.
Stand With Crypto reiterated that supporters have contacted Congress nearly 1 million times as it renewed its campaign for passage of the CLARITY Act, the bill that would create a federal regulatory framework for digital assets. The U.S. advocacy organization says it has around 3 million registered advocates, and it is highlighting the outreach to underscore sustained public engagement with digital asset policy as lawmakers face a narrowing legislative calendar.
Its 2025 report said advocates sent more than 925,000 emails to Congress that year, and more than 1.1 million since the organization's founding.
Wall Street and law enforcement join the push
The bill gained support this week from major financial institutions and the nation's largest police organization, broadening the coalition pressing senators to advance it. Fidelity urged senators to pass the legislation, arguing that nationwide rules would strengthen investor confidence and give businesses greater regulatory certainty.
Goldman Sachs CEO David Solomon also backed moving the legislation forward. The Fraternal Order of Police, which represents 382,000 active and retired officers, endorsed the revised bill after changes preserved protections for criminal investigations, suspicious-transaction holds and digital asset seizures.
House Majority Whip Tom Emmer called that endorsement "big news," saying FOP support would help ensure the United States remains a global leader in digital assets.
What the CLARITY Act would change
The bill would clarify when the Securities and Exchange Commission or the Commodity Futures Trading Commission oversees a cryptocurrency or market intermediary. Its provisions could affect exchange registration, asset listings, customer disclosures, and enforcement involving fraud or manipulation.
Senator Cynthia Lummis (R-WY) released revised text July 22 combining work from the Senate Banking and Agriculture committees. The Senate Banking Committee had previously advanced the legislation in a bipartisan 15-9 vote.
Senate timing stays unresolved
However, seven Senate Democrats said the latest draft still falls short on ethics, consumer protection, illicit finance, conflicts of interest and market integrity. Their objections center partly on restrictions governing digital asset activity by elected officials and their families.
Meanwhile, no floor vote has been scheduled, and supporters are urging lawmakers to act before the August recess. Grayscale research chief Zach Pandl warned that the bill could be overtaken by midterm election politics if it does not clear the Senate within the next two weeks.
Source: Bitcoin News
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