Brian Armstrong, CEO of Coinbase, claims that one in four Americans holds cryptocurrency and that these voters are twice as likely to support a candidate favorable to the CLARITY Act. The House of Representatives passed the bill in July 2025 by a vote of 294 to 134, and the Senate Banking Committee approved its own version by 15 votes to 9 in May 2026. The versions from the Banking Committee and the Agriculture Committee still need to be merged before a floor vote, which will require at least 60 votes to overcome the procedural hurdle. Fairshake and its affiliated organizations have approximately 193 million dollars for the 2026 electoral cycle, primarily funded by Coinbase, Ripple, and Andreessen Horowitz. The CLARITY Act aims to clarify the boundary between securities and digital assets under CFTC jurisdiction, granting the CFTC oversight of spot markets for digital commodities.
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