Key Takeaways
- Lawmakers from both parties are aligning on crypto regulation.
- The CLARITY Act could advance within weeks, said Senator Gillibrand.
- Ethics rules could unlock more support.
A rare synergy appears to be emerging in Washington around crypto regulation.
U.S. lawmakers from both parties are working to advance the CLARITY Act, also known as the crypto market structure bill, in the Senate within weeks, according to senior officials.
Lawmakers have also claimed that adding more ethics provisions could be the key to unlocking additional votes for the bill.
Clearer Rules
Speaking at the DC Blockchain Summit, Senator Kirsten Gillibrand and House Majority Whip Tom Emmer highlighted growing cross-party cooperation on crypto bills, as Congress moves toward establishing clearer rules for the industry.
“I’m optimistic that this bill will come to fruition in the next several weeks,” Gillibrand said, referring to the CLARITY Act.
Emmer underscored the breadth of support, while rejecting traditional political labels.
“I won’t use that term bipartisan when it comes to crypto… This is a non-partisan issue,” he said.
“This is about Americans.”
Crypto Bill Cross-Party Support
The CLARITY Act, passed by the House, has become a focal point for growing consensus in Washington, with nearly 100 Democrats joining Republicans in backing the bill.
Emmer said that the level of support reflects years of education and engagement between lawmakers and the crypto industry.
“Human beings, when they don’t understand something, tend to fear it,” he said.
“You’re seeing the benefits of probably the last decade… people are learning more and more about this space.”
Gillibrand, who has worked with Republican Senator Cynthia Lummis on crypto legislation, said cooperation across parties has been essential to advancing the issue.
“It’s extremely important that we keep it nonpartisan,” she said, adding that ongoing Senate work will “build on the excellent work of the House.”
Building On Framework
The Senate aims to expand on the CLARTIY Act by refining market structure rules and reconciling proposals from multiple committees, including Banking and Agriculture.
Gillibrand said only a handful of issues remain under negotiation, with lawmakers working to merge provisions into a final package.
“We have maybe three or four open items… negotiating final resolution,” she said.
A key element under discussion is the inclusion of ethics provisions, which Gillibrand said could further strengthen bipartisan support.
“If we get the ethics provision in the bill, you will unlock many more votes,” she said.
Shared Priorities
Both lawmakers pointed to shared economic goals as a driver of consensus, including maintaining U.S. leadership in financial innovation and expanding access to financial services.
“This industry can solve big problems like access to capital […] It’s really addressing a problem of unbanked and underbanked people,” Gillibrand said.
She added that regulatory clarity would help ensure companies choose the United States over competing jurisdictions.
“They’re going to choose us, because we are going to have the best regulated markets for certainty,” she said.
Crypto Bill Goes Mainstream
The growing alignment reflects a broader shift in Washington. Digital assets have moved from a fringe topic to a mainstream policy priority.
Emmer said increased understanding among lawmakers and voters, including younger generations, has helped drive the change.
“You’re electing more people who understand it,” he said.
He added that the appeal of crypto extends beyond financial gains.
“It’s not just about wealth creation […] It’s about making the world a better place for everyone,” Emmer said.
As the Senate prepares to act, both lawmakers stressed that maintaining cross-party cooperation will be key to passing durable legislation built on the foundation of the CLARITY Act.
“We need to be able to show that we can regulate industry well, so that it thrives,” Gillibrand said.
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Kurt Robson is a London-based reporter at CCN, specialising in the fast-moving worlds of crypto and emerging technology. He began his career covering local news in Cornwall after graduating from Falmouth University with First Class Honours in Journalism. There, he cut his teeth on everything from council meetings to missing swans.
He quickly rose through the ranks to become a frontline journalist at several of the UK’s leading national newspapers. Over the years, he has interviewed musicians and celebrities, reported from courtrooms and crime scenes, and secured multiple front-page exclusives.
Following the upheaval of the COVID-19 pandemic, Kurt shifted his focus to technology journalism—just ahead of the AI boom. With a natural curiosity and a trained eye for emerging trends, he has found a new rhythm in reporting on innovation.
At CCN, Kurt's work focuses on the cutting edge of crypto, blockchain, AI, and the evolving digital world. Drawing on his background in people-first reporting and his deep interest in disruptive tech, Kurt delivers stories that are insightful, entertaining, and human-centric.
