Hagerty Seeks Senate Crypto Bill Vote by April
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- Senator Bill Hagerty said the Senate will aim to pass the crypto bill by April, before the midterm elections.
- CLARITY Act originally passed the House in July and now seeks a comprehensive crypto framework that would shift market oversight from the SEC to the CFTC.
- U.S. Senate Agriculture Committee advanced its version of the crypto bill in a January markup, but tokenized equities, ethics, and stablecoin yield concerns have stalled the banking committee’s progress.
- U.S. Senate Banking Committee must hold a markup before a floor vote, yet it has delayed action over tokenized equities, ethics, and stablecoin yield issues.
- Paul Grewal of Coinbase said lawmakers are “close to a deal” on stablecoin yield and other market‑structure provisions in the bill.
- Fairshake PAC disclosed spending over $130 million on media buys in the 2024 elections and now holds a $193 million war chest ahead of the 2026 midterms.
- Fellowship PAC raised more than $100 million from undisclosed crypto‑aligned backers and appointed Tether executive Jesse Spiro as its chair.
Why it matters: The bill’s passage would transfer crypto market supervision from the SEC to the CFTC, giving the CFTC broader authority while limiting the SEC’s role, and the April deadline ties the outcome to 2026 midterm politics, where crypto‑backed PACs are pouring millions into campaigns.
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