CLARITY Act · US Senate · US Congress · Decrypt
Crypto, Banks Take Clarity Act Lobbying Fight to Senators' Home States
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Crypto advocates and community bankers are taking their fight over the Clarity Act to senators’ home states ahead of a key vote next week.
Key facts
- Stand With Crypto, a Coinbase-backed advocacy group that says it has 3 million supporters, said members called or emailed Congress nearly 50,000 times in August while organizing events and placing
- The Senate is scheduled to hold a procedural vote on the Clarity Act on September 15
- Crypto groups have already spent at least $190 million ahead of the November midterm elections
- New ICBA polling demonstrates that small businesses understand firsthand the critical role of community banks in supporting local economies and want to ensure the Clarity Act does not harm
Summary
The Senate is scheduled to hold a procedural vote on the Clarity Act on September 15. Stand With Crypto says supporters called or emailed members of Congress nearly 50,000 times in August. Community bankers are lobbying senators over provisions they say could pull deposits from banks and hurt lending.