Hughes pushes CLARITY Act as Senate to markup bill
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- Hughes says passing the CLARITY Act would cement clear rules for the U.S. crypto industry, ending years of regulatory uncertainty and encouraging projects to build in the United States.
- Hughes warns the Senate has only weeks to move the bill before the August recess, after which the midterm election calendar takes over, making the window “unforgiving”.
- Senate Banking Committee scheduled a markup for the CLARITY Act on Thursday of the week following publication.
- Brad Garlinghouse cautioned that despite recent progress, passage into law is not guaranteed.
- HarrisX poll found 52% of 2,028 registered U.S. voters support the CLARITY Act, with strong bipartisan backing across Democrats and Republicans.
Why it matters: U.S. crypto companies stand to gain clearer compliance rules and domestic investment if the CLARITY Act passes before the August Senate recess; failure delays a framework until 2030, keeping firms in legal limbo and deterring U.S. talent.
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