The U.S. Crypto Market Structure bill, the “CLARITY Act,” is entering a critical week before the Aug. 7 summer recess: the Senate still expects to hold an initial vote to test political momentum, but data compiled by foreign media shows the bill is still about 9 votes short of the 60-vote threshold for advancement. SkyBridge Capital founder Anthony Scaramucci urged Congress to compromise, saying the latest version is “10 times better” than the current situation.
Procedural hurdles for the Senate’s initial vote: still about 9 votes short before the Aug. 7 recess
Progress on the “CLARITY Act” faces dual pressure from both procedural timing and the 60-vote threshold: even if this week a motion to end debate is filed, it would still take several days at the earliest before an initial procedural vote can be held. After that, debate, amendments, and a final vote would still need to be addressed. Democrats including Elizabeth Warren and Chris Murphy remain skeptical about the bill, and Republicans have not yet fully resolved internal disputes over the bill’s ethics provisions.
Foreign media tallies indicate the bill is currently about 9 votes short of the 60-vote threshold (51 votes from Republicans, with only a limited number of publicly supportive Democratic lawmakers). If an initial vote cannot be completed before Aug. 7, crypto market-structure legislation may have to wait until after the recess for the political agenda to make room again.
Scaramucci urges publicly: latest version is “10 times better” than the current situation
SkyBridge Capital founder Anthony Scaramucci said publicly that while the bill draft still has shortcomings and the ethics provisions can be strengthened, the latest version is clearly superior to the current chaotic state of U.S. crypto regulation. He urged Congress to first establish an enforceable market-structure framework, then strengthen weaknesses through subsequent amendments. He criticized a “Washington negotiation culture” that often demands compromise, yet refuses to acknowledge results once a compromise proposal actually emerges; he described the latest version as “10 times better” than the current situation. The remarks reflect concerns within the crypto industry that the bill could again get stuck amid a political tug-of-war.
Fidelity and FOP’s reasons for support
Fidelity (asset manager of about $7.1 trillion), through its public policy account, urged the Senate to pass the “CLARITY Act,” saying clear rules help strengthen investor confidence, provide certainty for market participants, and solidify the U.S.’s leadership position in global digital-asset markets; since Fidelity itself manages Bitcoin and other digital-asset ETFs, it is highly focused on market-structure rules.
The Fraternal Order of Police (FOP, representing more than 382k active and retired law enforcement officers) shifted to support after revisions to the new version of the text. It believes the bill has incorporated arrangements that would help state and local law enforcement protect consumers, investigate financial crimes, and cooperate with federal partners, as well as safeguards against digital-asset ATM fraud, anti–money laundering, and sanctions compliance.
FAQ
How large is the vote gap for the CLARITY Act in the Senate right now?
Based on statistics compiled by foreign media, the “CLARITY Act” is still about 9 votes short of the 60-vote threshold needed for advancement in the Senate; Republicans currently provide 51 votes in support, and the number of Democrats publicly backing the latest draft remains limited. Key Democratic concerns include whether the ethics provisions are strong enough to limit crypto profits by public officials and their families.
Why does Scaramucci call on Congress to accept the current version of the CLARITY Act?
SkyBridge Capital founder Scaramucci said that while the latest version is not perfect, compared with the “10 times better” chaotic state of current U.S. crypto regulation, it is “10 times better.” He argues that Congress should first establish an enforceable market-structure framework, and then use subsequent amendments to fill gaps, while criticizing that continued demands for changes could cause the entire legislative outcome to again miss a political window.
What are the reasons Fidelity supports the CLARITY Act?
Fidelity, which manages about $7.1 trillion in assets, said that clear digital-asset regulatory rules help strengthen investor confidence, provide certainty for market participants, and solidify the U.S.’s leadership position in global digital-asset markets; since Fidelity itself manages Bitcoin and other digital-asset ETFs, it is highly focused on market-structure rules.
