Senate Democrats Push for Bipartisan Collaboration on CLARITY Act

Senate Democrats, led by Senator Ruben Gallego, are calling on Republicans to collaborate on the CLARITY Act, a proposed crypto market structure bill. In a press release, Gallego and 11 other Democrats emphasized that the legislation cannot advance without bipartisan authorship, noting that cooperation has historically been the norm for major legislation.

The senators highlighted their recently released CLARITY Act framework, which sets out seven key pillars for regulating the $4 trillion global digital assets market. These include clear definitions for non-security crypto assets, regulatory jurisdiction between the SEC and CFTC, incorporation of issuers and platforms into oversight, prevention of illicit finance and abuse, and ensuring fair and effective rules. They stressed that meaningful progress requires “mutual understanding” between both parties.

Industry leaders also weighed in on the bill’s momentum. Coinbase CEO Brian Armstrong expressed optimism, calling the legislation a “freight train leaving the station” and asserting it could prevent future regulatory overreach by clarifying agency powers. Armstrong’s comments followed a roundtable in Washington where crypto executives and lawmakers discussed how to build the industry in the U.S. while protecting consumers and supporting innovation.

Cardano founder Charles Hoskinson echoed the progress but acknowledged more work lies ahead. Meanwhile, crypto analyst Paul Barron noted that his contacts in Washington believe the bill is moving “very fast in the right direction.”

With growing bipartisan interest and strong industry support, the CLARITY Act is emerging as one of the most significant attempts yet to establish clear rules for the U.S. crypto market. Its success could shape the future of digital asset regulation and provide the certainty that investors and innovators have long sought.