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The crypto industry is putting everything they’ve got into passing the so-called CLARITY Act, even though Senate Democrats were shut out of the negotiations on ethics rules they want included to stop Trump’s crypto corruption.  The industry has identified its path to victory: pressure enough Democrats to join Republicans, break the filibuster, and move the bill to a final vote. Investor’s Business Daily described the Republican push as an “all hands on deck” effort to get the CLARITY Act over the finish line before the August recess and the midterm elections. The White House supports this bill. Any ethics provision Donald Trump is willing to approve while preserving his crypto empire fails the test before the ink dries. Trump disclosed more than $1.4 billion in crypto-related income last year, including $635 million in royalties from the entity believed to be behind the $TRUMP meme coin. The deal would place responsibility for policing those conflicts in Trump’s own Justice Department, giving his administration power over whether his corruption ever faces consequences. A serious crypto bill would completely shut down presidential profiteering, protect investors, preserve strong securities laws, and stop risky digital assets from threatening retirement savings and the broader economy. The CLARITY Act delivers industry-written loopholes, weaker oversight, and federal legitimacy for a sector built around scams, manipulation, and political influence.
Republicans need 60 votes to end debate. If they win cloture, the CLARITY Act can move to final passage, where a simple majority can push this crypto giveaway forward. The fight must be won before that point. Crypto companies have already spent $189 million to influence the 2026 elections, more than the industry spent during the entire previous election cycle. More than one-third of all corporate political money contributed to this year’s elections has come from crypto, making it the country’s biggest corporate political spender. That money is aimed at creating a Congress that will pass the legislation crypto executives demand. The industry wants Senators to fear its super PACs more than their own constituents. We can reverse that pressure. Democrats need to hear that surrendering to Trump’s secret deal will have consequences. Republicans facing competitive elections in Maine, Ohio, and Alaska need to know that voters are watching their role in this scam too. The CLARITY Act would weaken the SEC’s authority, undermine long-standing investor protections, expand openings for illicit finance, and push unstable crypto products deeper into the financial system. More than 260 organizations have opposed legislation that fails to address these dangers. Senators must choose between protecting the public and rewarding the crypto lobby for its record-breaking political spending. Let’s shut down this crypto con before it ever reaches a final vote. -Mark. Mark Hays (he/him)
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