WORLD
US Senate Republicans set the stage for Clarity Act to regulate cryptocurrencies
- IBJ Bureau
- Aug 10, 2026
US Senate majority leader John Thune has moved to advance a major Bill that will create a regulatory framework for cryptocurrencies.
If passed, it would mark a huge victory for US President Donald Trump and the crypto industry.
Mr Thune, a Republican, has filed to set up a key procedural vote on the Clarity Act when the Senate returns from its August recess in mid-September.
This potentially paves the way for a full floor vote on the Bill, according to the US Senate Press Gallery website.
Senate Republican leaders believe that they may yet be able to wrangle the 60 votes needed for the Bill to pass despite continued opposition by many Democrats.
Currently, the Bill needs the support of at least eight Democrats and all of the Senate’s voting Republicans for it to pass.
The legislation will give the crypto industry its first comprehensive federal rulebook defining when digital tokens are securities or commodities and which regulators oversee them.
Crypto companies say that the Act is necessary to provide legal clarity for the industry and could potentially boost the adoption of cryptocurrencies.
The passage of the Clarity Act will also hand Mr Trump a second major crypto policy win after he signed a Bill supporting dollar-backed tokens known as stablecoins into law last year.
The Democrats, however, say that Mr Trump’s family's own crypto profits create a conflict of interest.
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