Grayscale wants the Senate to vote on the CLARITY Act before lawmakers leave for the August recess. The digital asset giant argues that delayed regulations are holding back institutional investors like pension funds and endowments from fully entering the crypto market.
The House already approved the bill by 294-134, and the Senate Banking Committee moved it forward 15-9, but the full Senate vote is still pending. With Republicans holding 53 seats, at least seven Democrats must back the bill to reach the 60-vote threshold needed to advance.
The legislation aims to clarify which federal agencies oversee digital asset trading, dividing duties between the SEC and CFTC, while addressing investor protections, stablecoin rules, and anti-money laundering measures. Grayscale made its appeal directly to Senate Majority Leader John Thune and Minority Leader Chuck Schumer, emphasizing that hundreds of thousands of Americans rely on its crypto investment products.
Bitcoin trades near $63,000 as the regulatory debate continues without clear impact on prices so far.
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