{"id":72449,"date":"2026-05-13T10:19:52","date_gmt":"2026-05-13T10:19:52","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/schumer-says-democrats-want-a-good-crypto-bill-as-clarity-act-enters-key-phase\/"},"modified":"2026-05-13T10:19:52","modified_gmt":"2026-05-13T10:19:52","slug":"schumer-says-democrats-want-a-good-crypto-bill-as-clarity-act-enters-key-phase","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/schumer-says-democrats-want-a-good-crypto-bill-as-clarity-act-enters-key-phase\/","title":{"rendered":"Schumer Says Democrats Want a Good Crypto Bill as CLARITY Act Enters Key Phase"},"content":{"rendered":"<p><b>(Originally posted on : Bitcoin News )<\/b><br \/>\n<\/p>\n<div>\n<p><span style=\"font-weight:400\"><\/p>\n<div class=\"@container mb-[25px] rounded-sm overflow-clip py-0.5 pr-0.5 pl-2.5 bg-success-100\">\n<div class=\"flex flex-col gap-m overflow-clip rounded-[6px] !bg-success-10 p-3 @[420px]:p-m\">\n<h2 class=\"m-0 flex items-center gap-s text-[19px] !text-[#1c1c1c] md:text-[20px]\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"10\" viewbox=\"0 0 16 10\" fill=\"none\" class=\"shrink-0 text-success-100\" aria-hidden=\"true\"><path d=\"M1 1.5h14\" stroke=\"currentColor\" stroke-width=\"2.5\" stroke-linecap=\"round\"\/><path d=\"M1 8.5h10\" stroke=\"currentColor\" stroke-width=\"2.5\" stroke-linecap=\"round\"\/><\/svg><span>Key Takeaways<\/span><\/h2>\n<ul class=\"m-0 flex list-none flex-col gap-m pl-0\">\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">Schumer publicly backed crypto legislation, saying Democrats want \u201ca good crypto bill\u201d to pass in 2026.<\/span><\/li>\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">The GENIUS Act passed the Senate 68-30 in 2025, with 18 Democrats voting yes despite Schumer\u2019s earlier resistance.<\/span><\/li>\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">Senate Banking Chair Tim Scott has targeted a CLARITY Act markup for May 14 and a floor vote by June or July.<\/span><\/li>\n<\/ul>\n<\/div>\n<\/div>\n<p><\/span><\/p>\n<h2><span style=\"font-weight:400\">FROM OPPOSITION TO OPENNESS<\/span><\/h2>\n<p><span style=\"font-weight:400\">Schumer\u2019s comment came during what has been a turbulent stretch for U.S. <span>crypto<\/span> legislation. Earlier in the debate over the GENIUS Act (Guiding and Establishing National Innovation for U.S. <span>Stablecoins<\/span> Act), Schumer had told Democratic members not to commit to voting for the bill until changes were made. <\/span><span style=\"font-weight:400\">Despite that pressure, the Senate <\/span><a href=\"https:\/\/www.nbcnews.com\/politics\/congress\/senate-passes-landmark-crypto-regulation-bill-bipartisan-vote-sending-rcna213437\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight:400\">voted 68-30<\/span><\/a><span style=\"font-weight:400\"> to pass the GENIUS Act, with 18 Democrats crossing the aisle. The bill was <\/span><span style=\"font-weight:400\">signed into law<\/span><span style=\"font-weight:400\"> in July 2025.<\/span><\/p>\n<figure id=\"attachment_813708\" aria-describedby=\"caption-attachment-813708\" style=\"width:938px\" class=\"wp-caption aligncenter\"><figcaption id=\"caption-attachment-813708\" class=\"wp-caption-text\">Image source: X<\/figcaption><\/figure>\n<p><span style=\"font-weight:400\">Now attention has <a href=\"https:\/\/news.bitcoin.com\/us-senate-drops-309-page-crypto-clarity-act-draft-ahead-of-may-14-vote\/\">shifted to the next major bill<\/a>, i.e., the Digital Asset Market Clarity (CLARITY) Act, which covers the broader market structure for <span>crypto<\/span> assets beyond <span>stablecoins<\/span>. <\/span><span style=\"font-weight:400\">Schumer\u2019s choice words in \u201cgood <span>crypto<\/span> bill\u201d may carry a pointed qualifier given that the Democratic party\u2019s resistance to the CLARITY Act has increasingly centered on an <\/span><span style=\"font-weight:400\">ethics provision<\/span><span style=\"font-weight:400\"> that would bar senior government officials, <a href=\"https:\/\/news.bitcoin.com\/bernie-sanders-trump-family-4-billion-crypto\/\">including the president<\/a>, from profiting off <span>crypto<\/span> markets while regulating the industry.<\/span><\/p>\n<p><span style=\"font-weight:400\">That provision was removed from the May 2026 draft of the bill, drawing swift pushback from Democratic senators who say the bill is \u201cdead on arrival\u201d without it. Senator Kirsten Gillibrand, one of the GENIUS Act\u2019s original architects, has stated CLARITY cannot advance without such a safeguard.<\/span><\/p>\n<p><span style=\"font-weight:400\">This tension reflects a broader dynamic, given that the <a href=\"http:\/\/www.bitcoin.com\/get-started\/a-quick-introduction-to-crypto\/\" class=\"lar_link lar_link_outgoing\" target=\"_blank\" rel=\"noopener noreferrer\">crypto<\/a> industry has <\/span><span style=\"font-weight:400\">backed the yield compromise<\/span><span style=\"font-weight:400\"> in the bill, which bans yield on <a href=\"http:\/\/www.bitcoin.com\/get-started\/what-are-stablecoins\/\" class=\"lar_link lar_link_outgoing\" target=\"_blank\" rel=\"noopener noreferrer\">stablecoins<\/a> equivalent to bank deposits but allows \u201cbona fide activities.\u201d Even then, the ethics question remains unresolved. Coinbase and Circle both urged the Senate Banking Committee to advance CLARITY after the yield deal was struck.<\/span><\/p>\n<h2><span style=\"font-weight:400\">WHY IT MATTERS<\/span><\/h2>\n<p><span style=\"font-weight:400\">The CLARITY Act would establish a comprehensive regulatory framework for the broader <a href=\"http:\/\/www.bitcoin.com\/get-started\/a-quick-introduction-to-crypto\/\" class=\"lar_link lar_link_outgoing\" target=\"_blank\" rel=\"noopener noreferrer\">crypto<\/a> market, addressing which tokens qualify as securities versus commodities and which regulators, the SEC or the CFTC, have jurisdiction. For exchanges, projects, and institutional players operating in the U.S., the law would be transformational.<\/span><\/p>\n<p><span style=\"font-weight:400\">Schumer\u2019s signal, however cautious, suggests that Democrats are not looking to block <a href=\"http:\/\/www.bitcoin.com\/get-started\/a-quick-introduction-to-crypto\/\" class=\"lar_link lar_link_outgoing\" target=\"_blank\" rel=\"noopener noreferrer\">crypto<\/a> legislation outright but want specific guardrails. If the ethics provision finds its way back into the draft, a bipartisan path to passage before the end of 2026 begins to look more plausible. For an industry that has spent years navigating regulatory hostility, even that level of political openness is worth watching closely.<\/span><\/p>\n<p> <!-- --><\/div>\n<p><a href=\"https:\/\/news.bitcoin.com\/chuck-schumer-democrats-good-crypto-bill-clarity-act\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : Bitcoin News ) Key Takeaways Schumer publicly backed crypto legislation, saying Democrats want \u201ca good crypto bill\u201d to pass in 2026. The GENIUS Act passed the Senate 68-30 in 2025, with 18 Democrats voting yes despite Schumer\u2019s earlier resistance. Senate Banking Chair Tim Scott has targeted a CLARITY Act markup for [&hellip;]<\/p>\n","protected":false},"author":3947362404,"featured_media":72450,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[32],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/72449"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/3947362404"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=72449"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/72449\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/72450"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=72449"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=72449"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=72449"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}