The CLARITY Act, which was pushed to September after Senate leaders delayed the vote before leaving for their August recess, is gaining support from industry leaders and policymakers.
Former New York Gov. Andrew Cuomo is now urging Congress to pass the bill, warning that the U.S. is falling behind other countries on crypto regulations as “it has to pass.”
Cuomo Says U.S. Cannot Keep Waiting on Crypto Rules
Speaking at the SALT Conference in Jackson Hole on 18 August, Cuomo said lawmakers need to resolve their differences and give the crypto industry clear rules.
“It can pass because it has to pass because we’re already way behind.”
The CLARITY Act would create a federal framework for digital assets and help define which crypto products fall under the SEC or CFTC.
Cuomo said businesses need to know where regulators will draw the line before they can confidently build and invest in the U.S. He also warned that leaving the job to federal agencies could create rules that change whenever political control shifts in Washington.
Ethics Fight Remains a Major Roadblock
The Senate has already worked through many parts of the market structure bill, but several issues are still holding back a deal.
Senate Democrats want stronger ethics protections, while other disputes include stablecoin rewards and law enforcement rules. The ethics debate has also focused on President Donald Trump’s crypto interests.
Cuomo said Democrats have legitimate concerns, but lawmakers should work through them instead of allowing the disagreements to stop the bill.
“Ultimately, you need trust. You need integrity.”
His comments come as Senator Cynthia Lummis says the Senate will officially vote on the Crypto Clarity Act on 15 September at 2 pm ET.
Sept. 15 Vote Could Decide CLARITY’s Next Step
The Senate left Washington for its August recess without voting on the CLARITY Act. Senate Majority Leader John Thune has now set a procedural vote for 15 September after lawmakers return.
The vote is a cloture vote, meaning the bill needs 60 votes to end debate and move forward. It is not the final vote to make CLARITY law.
That makes the September vote a major test for the bill. The legislation passed the Senate Banking Committee in May with a 15-9 vote, but it still needs support from Democrats to clear the Senate.
Meanwhile, prediction markets have placed the chances of the bill becoming law in 2026 at around 20%, showing how difficult the path remains.
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