The CLARITY Act, the crypto lobby’s long-awaited regulatory framework, is finally headed to a markup session in the United States Senate Banking Committee.
It’s been a long road. The bill passed the House of Representatives on July 17, 2025, and has since been in deliberation in the Senate. Most recently, the crypto and banking lobbies were at loggerheads over whether stablecoins could offer interest, further delaying progress.
The two industry interest groups appear to have reached an agreement. However, this does not mean that the bill is finished. Indeed, far from it, as members could introduce contentious amendments, vote against reporting the bill to the Senate floor, or not produce a quorum.
With the vote set for May 14, here’s a quick look at who supports the bill on the Senate Banking Committee.
Supporters
Tim Scott (R-SC)
Source: US Senate
As Chairman of the Senate Banking Committee, Senator Scott has led the group’s work on CLARITY, stating his desire to make the US “the crypto capital of the world.”
He was also a cosponsor of the GENIUS Act regulating stablecoins, and voted for SAB 121, a resolution that made pro-crypto amendments to US banking standards.
Scott received an A grade from Coinbase’s crypto policy tracking site Stand With Crypto.
Mike Crapo (R-ID)
Source: US Senate
Senator Crapo supported the GENIUS Act, as well as SAB 121 and SJ Resolution 3. The latter was a Senate Resolution that disapproved of the Internal Revenue Service (IRS) requiring DeFi services to collect user data.
While supporting the crypto industry with his votes, in his statements, Crapo has noted the need to create regulations with some investor protections. In a February 2018 statement, he said, “Technology is forward-looking, and we look to our regulators to continue carrying out their mandates, including investor protection, as the markets evolve.”
Crapo received an A from Stand With Crypto.
Mike Rounds (R-SD)
Source: US Senate
In addition to many of his Republican colleagues, Senator Rounds voted for GENIUS, SAB 121, and SJ Resolution 3.
Amid the pro-crypto furor that followed US President Donald Trump entering office, Rounds harshly criticized former President Joe Biden’s administration on its approach to crypto.
As the banking and crypto lobbies debated CLARITY, Rounds called for open negotiations, saying the public must have a chance to see what’s going on. Rounds himself has violated federal transparency laws by failing to disclose stock trades.
Rounds received an A from Stand With Crypto.
Thom Tillis (R-NC)
Source: US Senate
Tillis voted yes on GENIUS, SAB 121 and SJ Resolution 3. He also supported the Equal Opportunity for all Investors Act which, if it had passed, would have expanded who could have been considered a qualified investor under US securities law.
He supported the Trump administration’s decision to allow 401(k) retirement plans to invest in cryptocurrencies
Tillis said that the current form of CLARITY, which prohibits stablecoin rewards from resembling interest on bank deposits, but allows other forms of rewards, “helps put us on a bipartisan path to pass the CLARITY Act.”
Tillis received an A from Stand With Crypto.
John Neely Kennedy (R-LA)
Source: US Senate
Kennedy has supported pro-crypto regulations in the Senate like GENIUS, SAB 121 and SJ Resolution 3.
In an October 2025 statement on the floor of the US Senate, Kennedy said that the market structure bill would be “one of the most important pieces of legislation that this body will consider.”
Kennedy received an A from Stand With Crypto.
Bill Hagerty (R-TN)
Source: Bill Hagerty
Senator Hagerty is very pro-crypto, introducing the GENIUS Act to the Senate as a co-sponser. He also co-sponsored SJ Resolution 3, voted for SAB 121, and co-sponsored the Capital Gains Inflation Relief Act of 2023. The latter proposed indexing tax of certain assets, like Bitcoin, to inflation to reduce capital gains taxes on long-term investments. It didn’t pass.
Hagerty has said on many occasions that CLARITY is needed to make American markets more competitive. “In the race to lead in digital assets, America’s markets are our competitive edge,” he said in April.
Hagerty received an A from Stand With Crypto.
Cynthia Lummis (R-WY)
Source: Cynthia Lummis
Senator Lummis has long been an advocate for the crypto industry in the United States. She co-sponsored GENIUS and sponsored the Blockchain Regulatory Certainty Act of 2026.
The latter would acknowledge that blockchain developers and infrastructure providers don’t have control over users’ digital assets, and therefore cannot be classified as money transmitters under federal law. It has been referred to the banking committee.
She has also sponsored a bill to create a “Mined in America” certification for Bitcoin miners. This would ostensibly encourage miners to locate in the US rather than set up compute infrastructure overseas.
Ahead of the markup sessions, she said, “After nearly a year of…
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