Crypto Industry Pushes a Bill to Tilt Regulation in Its Favor

Since President Trump took office last year, the cryptocurrency industry has notched a series of political victories, escaping lawsuits, negotiating business-friendly policies and persuading the White House to create a national Bitcoin stockpile.

Now the crypto world is focused on its most ambitious aim: the passage of a 309-page bill that would create a sweeping regulatory framework for digital currencies, shaped in part by the industry itself.

The Senate Banking Committee is scheduled to vote on the bill’s latest draft on Thursday, a crucial procedural step after the House approved a version of the legislation last summer. A successful committee vote would pave the way for the bill, known as the Clarity Act, to reach the Senate floor this year.

But its fate is far from assured. The legislation has proved highly contentious, pitting the crypto industry against the powerful banking lobby, with enormous stakes for the future of financial regulation.

Article source: https://www.nytimes.com/2026/05/14/technology/cryptocurrency-clarity-act-senate.html