May 18: This week in crypto federal policy

DC Decentralized: A weekly newsletter on developments in digital asset and blockchain federal policy

This week decoded

The Digital Asset Market Clarity Act advanced out of the Senate Banking Committee with bipartisan support, marking a significant step toward establishing clear rules of the road for digital assets. Sens. Ruben Gallego (D-AZ) and Angela Alsobrooks (D-MD) joined Republican colleagues in moving the legislation forward.

The bill still faces a lengthy path before becoming law, with limited time remaining in the Congressional calendar. It must first be reconciled with the version passed by the Senate Agriculture Committee. Additionally, Senate negotiators and the White House will need to reach agreement on key ethics provisions and secure sufficient Democratic support to meet the 60-vote threshold required for final passage. The bill must then be passed by the House before reaching the President for signature.

Meanwhile, across the Capitol in the House, the Ways and Means Committee held a closed-door bipartisan roundtable on digital asset tax policy with a small group of academics and tax experts.

Separately, the National Credit Union Administration (NCUA) released new guidance outlining requirements and expectations for credit unions seeking to issue stablecoins.

Read more below

Congress

Hearings

Last week

• On May 14, the Senate Banking, Housing and Urban Affairs Committee held a markup of the “Digital Asset Market Clarity Act of 2025.”

This week

• On May 19, the House Select Strategic Competition Between the United States and the Chinese Communist Party Committee holds a hearing on “Crime, Corruption, and Power: The Rise of CCP-linked Scam Networks Targeting Americans and Threatening U.S. Security.”

• On May 20, the House Financial Services Digital Assets, Financial Technology, and Artificial Intelligence Subcommittee holds a hearing on “Partnering for Innovation: How Bank-Fintech Collaborations Enhance Financial Infrastructure.”

• On May 21, the House Financial Services Subcommittee on National Security, Illicit Finance, and International Financial Institutions holds a hearing on “Modernizing the BSA for Financial Crime in the 21st Century.”

Legislation

• The Senate Banking, Housing and Urban Affairs Committee passed the Digital Asset Market Clarity Act of 2025.

Correspondence

• Senate Banking, Housing, and Urban Affairs Committee Ranking Member Elizabeth Warren (D-MA) and Senate Committee on Armed Services Ranking Member Jack Reed (D-RI) sent a letter to Treasury Secretary Scott Bessent and Acting Attorney General Todd Blanche, requesting an investigation into World Liberty Financial following Wall Street Journal reporting that WLF partnered with a crypto venture whose flagship project had been led by U.S.-sanctioned individuals. (Letter)

• Reps. Ted Lieu (D-CA) and Sean Casten (D-IL) led 54 House Democrats in a letter to Acting Attorney General Todd Blanche urging the Department of Justice to pursue suspected insider trading on prediction market platforms more aggressively. (Letter)

Publications and Events

• The Senate Banking Committee published a series of fact sheets on the CLARITY Act. (Fact sheets)

Trump Administration

National Credit Union Administration (NCUA)

• NCUA released stablecoin implementation guidance on the requirements and guidelines for credit unions that issue stablecoins. The proposed rules are similar to those issued by the Federal Deposit Insurance Corporation and the Office of the Comptroller of the Currency on capital and liquidity requirements, redemption rules, and application guidelines. The comment period ends on July 17. (Press release)

Noteworthy Quotes and Events

ADMINISTRATION

White House

• President’s Council of Advisors for Digital Assets Executive Director Patrick Witt posted “As they say, life is sometimes like a pie-eating contest where the reward for success is more pie. Yesterday’s bipartisan markup of the Clarity Act was a major step forward, but as Senators on both sides of the dais noted, there’s more work to be done before this legislation is ready for prime time. We’ll keep working in good faith to build the support needed to pass the bill on the Senate floor.“

• Witt also posted “Today, the Senate Banking Committee will vote to advance the CLARITY Act. I am proud of the countless hours that my team, Treasury, SEC, CFTC, and Senate Banking staff and members have put into shaping this product. ... This morning’s vote will reveal whether Democrats have genuinely moved on from their war on crypto, or whether they remain cowed by Elizabeth Warren. The choice is theirs.”

• Witt also posted “It’s not limited to the UK. The entire world is waiting for the U.S. to lead the way on regulatory treatment of digital assets.”

• White House advisor David Sacks posted “UPDATE: the Clarity Act has passed out of the Senate Banking Committee. Congrats to Chairman SenatorTimScott, SenLummis, BernieMoreno, and their staffs on a job well done. Thank you also to SenThomTillis for his efforts to ensure that today’s vote was bipartisan.”

• Sacks also posted “Tomorrow’s markup of the Digital Asset Market Clarity Act is a monumental step in making the U.S. the Crypto Capital of the World... There are roughly 50 million people in the U.S. who own or use crypto. This legislation will ensure that this ecosystem can innovate and flourish for years to come.”

Securities and Exchange Commission (SEC)

• SEC Chair Paul Atkins posted “Congratulations to Chairman SenatorTimScott and BankingGOP for advancing the Clarity Act with bipartisan support. I look forward to President realDonaldTrump’s signature & working with ChairmanSelig to implement this legislation.”

Commodity Futures Trading Commission (CFTC)

• CFTC Chair Mike Selig posted “Today’s vote for CLARITY brings us one step closer to cementing the US as the crypto capital of the world. With a bright line between digital asset securities and commodities, clear rules of the road for digital asset transactions, and an end to regulation-by-enforcement, America will remain the global hub for crypto innovation for years to come.”

• Selig also posted “Finance has continuously evolved, from trading pits to electronic markets, to blockchains. If the US doesn’t embrace this innovation, it will move offshore. Under POTUS’ leadership, I’m committed to keeping America the crypto capital of the world.”

• Selig also posted “Under my chairmanship, the CFTC is ready to regulate the new frontier of finance. Our Innovation Task Force is hard at work ensuring those developing the next generation of blockchain technologies, AI, prediction markets, and more have good reason to build them in America.”

• Selig also posted “Americans deserve future‑proof digital asset market structure legislation that protects their right to self-custody crypto assets and transact peer-to-peer using blockchain networks.”

Federal Reserve

• In remarks at the Federal Reserve Bank of Kansas City 2026 Future of Banking Conference, Vice Chair for Supervision Michelle Bowman said, “Turning to emerging challenges like artificial intelligence, custody of digital assets, and evolving payment systems, the Fed’s role is to understand and encourage risk management of the use of these technologies. Genuine collaboration is critically important—where supervisors bring risk-management perspective and regulatory expertise, and bankers bring market knowledge and a deep understanding of customer needs.” (Remarks)

CONGRESS

CLARITY Act Support

• Senate Banking Chair Tim Scott (R-SC) said, “Today, the Banking Committee showed the American people that Washington can still work together. We had a serious debate, worked through real differences, and came together around a shared goal: protecting consumers, supporting innovation, and keeping the future of finance in America. This legislation brings digital assets into the sunlight with clear rules, stronger safeguards, and better tools to stop bad actors. For me, this is personal. My mother raised my brother and me with faith, grit, and determination, and she taught me that the American Dream should be within reach for every family, including single mothers working hard to build a better life for their children. Today is a historic day for this Committee and a major victory for the American people.” (Press release)

• Sen. Cynthia Lummis (R-WY) said, “After nearly a year of around-the-clock negotiations, I am incredibly proud of the product we have passed out of Committee today,” said Lummis. “This is a historic step forward for digital asset innovation, and I am grateful to Chairman Scott for his tireless efforts to move this legislation through Committee and my colleagues on both sides of the aisle who chose to put American leadership ahead of politics. Today’s passage out of Committee sends an unmistakable signal that the United States is not ceding the future of digital finance to anyone. I want to thank the industry, stakeholders, and every colleague who spent countless hours working to ensure we produced a bill worthy of this moment, and I believe we accomplished that goal. The United States has long been a beacon of innovation, and with final passage on the Senate floor, we are going to make sure it stays that way. Let’s finish what we started and cement America’s digital asset space for generations to come.” (Press release)

• Sen. Angela Alsobrooks (D-MD) issued a statement saying, “The digital revolution is upon us, and it has presented a clear opportunity to support small businesses, generate wealth, spur innovation, and support younger Americans who want to be part of this revolution. And this digital revolution is happening with us or without us—we have a responsibility to regulate it to create rules of the road. That is why I’ve been at the table. I’ve been in negotiations for over nine months, working toward regulating digital assets in a way that protects consumers and reduces the risks of deposit flight and deceptive marketing. I have negotiated in good faith with colleagues on both sides of the aisle willing to meet this critical moment. I’ve worked to make this bill better. Let me be very clear: my vote today is a vote to keep working in good faith. It does not mean I will be voting for the passage of the CLARITY Act on the floor. We still have work to do. We need to find a workable way to address law enforcement’s concerns about financial crimes. I am a former prosecutor and know how important that is. We also need to include an agreement on ethics—that would apply not just to the President and Vice President but to all of us. The American people—especially my constituents—expect that from us. I will keep working with my colleagues to get this done. Americans—from every background and every community—deserve to benefit financially from this digital revolution and be protected from the risks that come with it. If we don’t act, we will be left behind. I won’t let that happen.” (Press release)

• Sen. Ruben Gallego (D-AZ) issued a statement saying, “Digital assets have grown to represent a significant portion of our financial system. With 1 in 4 Americans now invested in digital assets, this issue cannot be ignored. What Congress is attempting to do here – create regulations for an entirely new set of assets – is a massive undertaking. We cannot afford to wait, but we also cannot afford to get this wrong. Through serious, bipartisan negotiations, we have made incredible progress on this bill. We have narrowed the gap on many of the outstanding issues. We did serious work on genuinely difficult questions about regulatory jurisdiction, consumer disclosure requirements, insolvency protections, stablecoin yield, crypto ATMs, and many more. My vote today is so we can continue these efforts. But I want to be clear: my vote here does not guarantee a vote on the floor. We have many outstanding issues still to resolve. Toughest and most critical of all is coming to an agreement on ethics guardrails for elected officials. This remains my focus moving forward.” (Press release)

• Sen. Pete Ricketts (R-NE) said, “As Governor, I signed legislation into law that put Nebraska at the forefront of financial innovation. As Senator, I am proud to vote for the CLARITY Act. It establishes clear and enforceable guardrails for digital asset markets. It will counter illicit financial activity and national security threats and foster innovation. I also fought for provisions that will preserve Nebraska’s recently passed law that has helped curb crypto ATM scams.” (Press release)

• Sen. Bill Hagerty (R-TN) posted “Today I was proud to advance the Digital Asset Market Clarity Act. This legislation is vital to supercharging innovation and preparing our economy for the 21st century. What the GENIUS Act is doing for the stablecoin ecosystem, CLARITY promises to do for all digital assets. While today marks an important milestone, the legislative work continues.”

• Sen. Thom Tillis (R-NC) posted “The Clarity Act passed by the Senate Banking Committee is a strong bipartisan compromise to provide the regulatory certainty needed to advance financial innovation. I was proud to work with my colleagues on both sides of the aisle for the past few months, and more work remains in the weeks ahead to make this legislation even better. Let’s get it done.”

• Sen. Pete Ricketts (R-NE) posted “Today during a BankingGOP hearing, I voted in support of the CLARITY Act. This bill provides regulatory certainty, protects consumers, encourages American innovation, and strengthens national security.”

• Sen. Jim Banks (R-IN) posted “Proud to vote YES on the crypto market structure bill today. Washington shouldn’t be in the business of strangling American innovation. Clear rules, free markets, and U.S. leadership in digital assets. That’s a win.”

• Banks also posted “Just voted for the crypto market structure bill. If we don’t write the rules for digital assets, China will. American innovation doesn’t wait for Washington to catch up.”

• Sen. Jon Husted (R-OH) posted “The American financial system is the envy of the world and one of the drivers of our nation’s success. The CLARITY Act creates a trusted system with clear rules and consumer protections for cryptocurrency that will ensure our country continues to compete and win. I strongly support this bill and hope for quick passage in the Senate.”

• Sen. Dave McCormick (R-PA) posted “Just voted to advance the CLARITY Act out of the BankingGOP Committee with bipartisan support. This is a big step for crypto, consumer protection, and keeping the future of finance here in America. Now let’s get it to the Senate Floor and onto the POTUS’s desk.”

• Sen. Katie Boyd Britt (R-AL) posted “I am excited to vote for the Clarity Act this morning in the Senate Banking Committee. Digital assets need smart regulation and clear rules of the road to follow. We’re one step closer to ensuring a Gensler regime can never be repeated. Let’s get this done.”

• House Committee on Financial Services Chair French Hill (R-AR) and House Committee on Agriculture Chair Glenn “GT” Thompson (R-PA) issued a statement saying, “Last July, the House sent a strong bipartisan message when 78 Democrats joined 216 Republicans to pass the CLARITY Act. On January 29, 2026, Senate Agriculture Committee Chairman John Boozman (R-AR) took the first step and advanced digital asset market structure legislation. We commend Chairman Tim Scott (R-SC) and the Senate Banking Committee for continuing that momentum and moving this bill forward. This landmark bill brings long-overdue certainty to the digital asset ecosystem and solidifies the United States as the global leader in the future of blockchain use in financial services. A clear framework will protect consumers, encourage responsible innovation, and keep investment and technological development here in the United States. We look forward to continuing to work with our Senate colleagues as the Banking and Agriculture Committees finalize the CLARITY Act and advance this historic legislation to the Senate floor. We must get a strong, durable framework that reflects the priorities of both Chambers across the finish line and to President Trump’s desk.” (Press release)

CLARITY Act Opposition

• Sen. Chris Van Hollen (D-MD) released a statement saying, “As we’ve seen time and again, cryptocurrency and digital assets are rife with opportunity for abuse if left unchecked. That’s why any regulation surrounding digital assets must protect consumers, safeguard our financial system, and stamp out their use in corrupt and criminal activities. While the CLARITY Act may seek to do that, it not only fails to achieve those goals but also risks deregulating existing markets and opening the door to further corruption and abuse. In an effort to address some of these issues, I introduced several amendments, including one to ensure that no government official – not the President, not members of Congress – or their families can own, promote, or affiliate with digital asset issuers or platforms. As President Trump and his family rake in billions of dollars through illicit crypto deals with foreign governments, this provision is necessary to prevent self-dealing by those who are in positions to profit from their own decisions. But instead of choosing to stand up to this rampant corruption, Republicans blocked this amendment, siding once again with political cronyism and against the American people. I also offered an amendment to rein in the use of these assets for money laundering, sanctions evasion, and the financing of terrorism – a necessity as the use of digital assets, like DeFi, in illicit activities reached an all-time high last year. The Republican majority voted down this amendment. The other amendments I put forward would have increased consumer protections and transparency and taken additional steps to crack down on illicit finance and corruption; however, the Chair did not allow consideration of those amendments. Without adopting these and additional critical changes, the CLARITY Act will put our consumers, financial systems, and national security at risk. It’s for these reasons that I voted against the CLARITY Act.” (Press release)

• Sen. Andy Kim (D-NJ) said, “I strongly believe in harnessing innovation and opportunity from emerging technologies, and that we don’t have to sacrifice national security needs or ethical standards to do so. I worked for years countering terrorist financing and saw up-close how we can find this important balance. As cartels, state sponsors of terrorism like North Korea, and other terrorist organizations abuse this market to money launder and get around sanctions, it is critical we address the risks they pose to Americans’ economic and national security. I put forward provisions to modernize our counter terrorism financing and money laundering controls while also protecting developers, entrepreneurs, and others who are trying to innovate and develop creative new technologies in good faith. The bill voted on fell short of what we’re capable of delivering but I look forward to seeing how it can improve before it comes before the full Senate for a final vote.” (Press release)

• Sen. Lisa Blunt Rochester (D-DE) released a statement saying, “Digital assets and blockchain technology present real questions and real opportunities, and legislation of this magnitude must be done right. I appreciate the substantial work many of my colleagues put into improving this legislation through good-faith bipartisan negotiations. While several provisions improved during negotiations, I do not believe the bill adequately addresses several serious outstanding concerns related to consumer and investor protection, market integrity, illicit finance, conflicts of interest, and the broader stability of our financial system. We cannot separate this debate from the broader environment in which it is occurring. This administration and the people connected to it continue to engage with the crypto industry in ways that raise serious questions about corruption, self-dealing, and whether the rules are being written to benefit industry insiders rather than protect consumers and the public. This administration has a track record of unethical policymaking, and the provisions in this bill to crack down on insider trading and self-dealing fall incredibly short. Law enforcement groups at every level from across the country have also voiced their concern about their ability to identify bad actors and protect communities from harm if this legislation progresses. Law enforcement relies on existing authorities and regulatory frameworks to trace questionable transactions and recover illicit proceeds, creating gaps in oversight and accountability that sophisticated criminal actors may exploit. I remain concerned that parts of the bill could weaken existing investor protections and leave consumers and investors with fewer protections and remedies than they have under current law. This could have an outsized impact on my constituents, as Delaware has more crypto kiosks per capita than any other state. While our Attorney General, the Delaware Department of Justice’s Investor Protection Unit, and national groups like AARP have been sounding the alarm on the potential for cryptocurrency scams for years. Any federal legislation to regulate the digital asset market must adequately protect consumers from fraudulent use of cryptocurrency. Congress should not advance legislation of this scale and consequence without greater confidence that it will strengthen, rather than weaken, trust in our financial system. The consequences of getting this wrong could extend far beyond the digital asset industry itself. Congress has a responsibility to ensure that innovation does not come at the expense of financial stability, public trust, or the protections Americans rely on in their financial markets. For those reasons, I voted no.” (Press release)

• Senate Banking, Housing, and Urban Affairs Committee Ranking Elizabeth Warren (D-MA) released a statement before the markup saying, “This bill puts investors, our national security and our entire financial system at risk – and it will turbocharge Donald Trump’s crypto corruption. In just one year in office, the President and his family have raked in at least $1.4 billion in gains from crypto deals alone, and yet this bill stunningly includes zero provisions to prevent that. The American people are watching. No Member of the Committee should support a bill that fails to stop the massive conflict of interests posed by Donald Trump and his family’s crypto ventures.” (Press release)

• Sen. Catherine Cortez Masto (D-NV) posted “It’s clear we need to pass market structure legislation, and I’ve worked for months with colleagues on both sides of the aisle to negotiate a bill that provides clear rules of the road for a growing industry. But the current version of the CLARITY Act undermines law enforcement’s ability to trace illicit finance and recover victims’ money, while at the same time creating a more challenging environment to prosecute criminals for knowingly transmitting illicit funds. It’s disappointing that my commonsense fixes discussed among stakeholders and supported by police and prosecutors nationwide weren’t adopted today. But I’m committed to finding solutions that allow us to take on bad actors – the criminals not the everyday coders – while giving the millions of U.S. crypto users the certainty they need.”

CLARITY Act Miscellaneous

• Senate Banking Chair Tim Scott (R-SC) posted “This week, the Senate Banking Committee proved Washington can still work together. Passing the bipartisan Clarity Act was historic and personal to me. My mother raised my brother and me with faith, grit, and determination, teaching us that the American Dream should be within reach for every family. Proud of BankingGOP for taking a step forward to make America the crypto capital of the world!”

• Scott also posted “Families, small businesses, investors, and innovators deserve clear rules of the road for digital assets. The Senate’s version of the CLARITY Act delivers certainty, safeguards, and accountability, while protecting Main Street, strengthening national security, and keeping innovation in America.”

• Scott also posted “The future of finance should be built in America, under American laws, and with American values. The Clarity Act takes the side of everyday Americans, protects investors, strengthens national security, and keeps America leading the world.”

• Scott also posted “If someone in South Carolina invests in digital assets, they deserve real, enforceable legal protections. The Clarity Act puts everyday Americans first with clear disclosures, safeguards against fraud, and rules that keep markets open and fair.”

• Scott also posted “Headed to BankingGOP to advance the CLARITY Act - a major step forward in ensuring America is the global leader in financial innovation and opportunity. Today, we take one step closer to making America the crypto capital of the world!”

• Sen. Cynthia Lummis (R-WY) posted “The risks the Ranking Member spoke of exist right now because there’s no regulatory framework. The Clarity Act creates one by establishing clear rules at the SEC and CFTC to protect good actors, punish bad ones, and bring the digital asset industry back to America.”

• Lummis also posted “Without the Clarity Act, the digital asset industry will move offshore to any nation that has regulators willing to engage. Every day that we stall is a day we hand our competitors an advantage we won’t get back. The Clarity Act is critical to securing our financial future.”

• Lummis also posted “For nearly 250 years, America has been the land of innovation. The Clarity Act continues that tradition by ensuring financial innovation happens here on U.S. soil under clear pro-growth, pro-consumer guidelines.”

• Lummis also posted “One small step for the Clarity Act and one giant leap for digital assets”

• Lummis also posted “Thank you ChuckGrassley for ensuring BRCA/sec 1960 protections for software developers are included in the Clarity Act while giving law enforcement tools they need. Clarity Act is the most pro-law enforcement digital asset bill Congress has ever considered. Let’s get this done!”

• Lummis also posted “Big week for digital assets. After nearly a year of bipartisan work, this markup brings us one step closer to cementing America’s place as the global leader in financial innovation. Wyoming showed the way, now Washington is following.”

• Lummis said the Clarity Act was “the hardest piece of legislation I’ve ever worked on.” (Punchbowl)

• Sen. Elizabeth Warren (D-MA) said, “A rich and powerful industry drives the agenda in the United States Senate. The senators didn’t spend tens of thousands of hours on a crypto bill because back home, their constituents were demanding it. They spent that time because the crypto industry wanted a bill.” (Punchbowl)

• Sen. Bernie Moreno (R-OH) posted “In just 15 months SenWarren has predicted economic Armageddon more than six times! Today apocalypse: the CLARITY Act will ‘blow up the economy.’ Same script, different target. Maybe the only thing crashing is her credibility. Innovation over fear!”

• Sen. Angela Alsobrooks (D-MD) said, “I have constituents who will be scammed out of their money if we do not regulate this industry. The horse is out of the barn.” (Punchbowl)

• Sen. Mike Rounds (R-SD) said, “Time will tell. It may very well be a shirts and skins effort where you have Republicans wanting to vote it out and then trying to fix it on the floor vs. Dems who would prefer to simply vote it down and start over again.” (Politico)

• Sen. Thom Tillis (R-NC) said of his stablecoin yield compromise, “It’s funny how transactions do things. Probably 99 out of 100 banking decisions around here, the banks are with me, and I’m with them. The one I’m not, they’re with Warren. Knock yourselves out.” (Politico)

• Sen. Dave McCormick (R-PA) posted “Happening today at 10:30 AM EST. BankingGOP and I are voting to advance the CLARITY Act out of Committee. It’s time to bring clear rules, responsible innovation, and American leadership to the future of finance.”

• McCormick also posted “Big day for American financial innovation. After months of bipartisan work, today’s BankingGOP markup on the CLARITY Act brings us closer to cementing America’s place as the global leader in the future of finance. Let’s get it through markup and to the Senate Floor.”

• McCormick also posted “Every day Congress fails to act on the CLARITY Act is another day that investment and digital asset innovation move overseas. It’s imperative that the CLARITY Act passes tomorrow in the Senate Banking markup.”

• McCormick also posted “This Thursday, the Senate Banking Committee and I will vote on the CLARITY Act. We’re voting on a bill that protects consumers, gives digital asset innovators certainty, and keeps the future of crypto in America, not offshore. Let’s get this done.”

• Sen. Kevin Cramer (R-ND) posted “Today’s successful bipartisan markup of the Clarity Act in BankingGOP establishes American regulatory guardrails around this emerging technology. We’ve already watched the majority of the industry leave for unregulated overseas markets, leaving consumers completely vulnerable to fraud or abuse. There’s more to be done to perfect this bill, but we’re working with Democrats on the committee to refine this framework and incubate a promising industry.”

• Sen. Mike Crapo (R-ID) posted “The CLARITY Act would provide investors & consumers the regulatory certainty needed to flourish in a digital economy.”

• Senate Banking Committee Ranking Member Elizabeth Warren (D-MA) posted “Around midnight, BankingGOP unveiled new crypto legislation. Among other flaws, it will turbocharge the massive conflict of interests posed by Donald Trump and his family’s crypto ventures. No bill should move through the Banking Committee without real ethics guardrails.”

• Sen. Chris Van Hollen (D-MD) posted “Today, I offered an amendment that would have shut this scam down. My amendment would’ve prevented self-dealing by public officials — including the President & members of Congress — who own or promote digital asset companies, including crypto. Every Republican voted against it.”

• Rep. Tom Emmer (R-MN) posted “Congrats to the Senate Banking Committee and Sen.TimScott for advancing the CLARITY Act out of committee, taking us one step closer to making America the crypto capital of the WORLD. We look forward to making sure POTUS signs the most significant, transformative piece of crypto legislation EVER!”

• Rep. Haley Stevens (D-MI) posted “Thank you to everyone working so hard in good faith to get this critical legislation done. Our innovators need clear rules of the road, that’s why I was proud to be one of the earliest supporters of the Clarity Act in the House. Still work ahead, but let’s keep the momentum going!”

• Rep. Young Kim (R-CA) posted “Great step toward bringing the CLARITY Act to the Senate floor. We need to get market structure to POTUS ’s desk ASAP.”

• Financial Services GOP posted “WATCH: Chairman RepFrenchHill on the CLARITY ACT: “I’m very encouraged. I want to congratulate Chairman Sen.TimScott and those members that have worked so hard, so diligently over the last many months… all of them have worked to find a bipartisan compromise to move our digital asset ecosystem forward and it’s exciting to see… So, I am very pleased to see the progress made by the Senate bill and really look forward to how the markup goes this week in BankingGOP.’”

Crypto Tax

• House Ways and Means Chair Jason Smith (R-MO) said, “Crypto, digital assets tax structure is not easy. It’s extremely difficult. A lot of members — it’s about education and getting them in an informed status. And today was a good step towards it.” (Punchbowl)

• At the House Ways and Means roundtable, Rep. Max Miller (R-OH) said, “Today is very introductory. Getting the other members comfortable with where we are in the digital age and getting out of the analog era is very important. We know we have to make this a bipartisan process, and that’s why we’re bringing the Democrats in.” (Tax Notes)

• Miller also said, “I understand bitcoin may not like me for seven out of the 10 things that I do, but at the end of the day, I’m batting 300 and it’s going to get them more people who are going to invest in cryptocurrency.” (Tax Notes)

• Rep. Steven Horsford (D-NV) said, “Doing nothing is a policy choice as well, because that allows the uncertainty; it allows potential abuse and corruption.” (Tax Notes)

• Rep. Mike Thompson (D-CA) said of the bipartisan roundtable, “This is an issue that is new to a lot of people and briefings like this are important so everyone can get up to speed.” (Politico)

Politico Poll Showing Crypto of Little Interest to Voters

• Sen. Cynthia Lummis (R-WY) said, “It’s still too new. For the industry, this is a big step forward, because it does really help embed this industry in the U.S. But for the average person, I mean, they’re thinking about the fact that gasoline is $4.18 in Wyoming. They’re worried about their daily lives.” (Politico)

• Sen. Thom Tillis (R-NC) said, “They don’t care. For people who grew up like me, I hope to God they’re not talking about crypto right now. Get a savings and loan account and try and get some minimum guaranteed return, period.” Tillis added, “Honestly, most people do not even know the distinctions between bitcoin, stablecoins, blockchain — the whole architecture of this space. A lot of people here don’t.” (Politico)

• Rep. Mike Flood (R-NE) said, “Younger voters especially [care]. They want innovation. They want to operate that way. The financial marketplace is changing as we see it.” (Politico)

• Rep. Dusty Johnson (R-SD) said, “Most voters don’t care about digital assets. But those who do care a lot. It is a high-intensity issue. And I think it’s going a little bit more mainstream. The number of people who ask me about it is still very small, but I would say growing.” (Politico)

Miscellaneous

• Sen. John Cornyn (R-TX) posted “North Korean operatives stole $2 billion in digital assets last year—and financial firms are the next target”

• Sen. Jim Justice (R-WV) posted “Scammers are targeting our seniors and stealing hard-earned savings through Bitcoin ATMs and crypto kiosks. No real government agency will ever tell you to put cash into one of those machines. We’re going after these crooks and fighting every day to protect our seniors and their money. NationalSeniorFraudAwarenessDay”

• Rep. Nikki Budzinski (D-IL) posted “Between senior officials profiting off prediction markets, crypto scams, & the Supreme Court’s lack of a code of ethics – corruption is rampant in DC. As Vice-Chair of Policy for the NewDemCoalition, my colleagues & I have a plan to fix this.”

• Rep. Tom Emmer (R-MN) posted “Congrats to Kevin Warsh on his confirmation as chair of the Federal Reserve. Kevin will be a great partner as we move towards solidifying America’s status as the world’s leader in digital assets and ensuring the United States never adopts a dangerous, anti-American CBDC surveillance tool we see in Communist China.”

• Sen. Bernie Sanders (I-VT) posted “When Andreesen Horowitz, a Silicon Valley firm with $100 billion in assets, can spend over $115 million to buy politicians who oppose regulating AI & crypto, you know our campaign finance system is broken. End Citizens United, ban Super PACs & get Big Money out of politics-NOW!”

• Rep. Tom Kean (R-NJ) posted “I’m pleased to join the Congressional Crypto Caucus. The United States must lead on digital assets - driving innovation, delivering regulatory clarity, and protecting consumers. I look forward to working with this bipartisan group of colleagues to advance that agenda.”

• Rep. Steven Horsford (D-NV) posted “The conversation around digital assets is no longer happening on the sidelines. It’s shaping how people think about business, banking, investment, and the future of the economy. Glad to join the discussion at XRP Las Vegas and hear directly from the innovators, developers, and entrepreneurs driving that change. As Congress works through the future of crypto policy, my focus stays clear: protecting consumers, supporting responsible innovation, and making sure working families and small businesses aren’t left behind as technology moves forward.”
  

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