Coinbase-Backed Crypto Group Warns of Midterms Payback After Clarity Act Fails
Summary
Stand With Crypto, a Coinbase-backed advocacy group, warned that senators who blocked the Clarity Act will face electoral consequences. After the Senate failed a cloture vote needed to advance the bill, the group said it would add senators’ votes to its public scorecards ahead of the midterms and mobilize crypto voters. The bill would create federal rules for digital assets and split oversight between the SEC and CFTC. The vote failed after last-minute disputes over ethics rules, protections for software developers, and crypto trading oversight. Banking groups also pushed for tighter stablecoin limits. Stand With Crypto said it had driven nearly 50,000 constituent contacts in August and will keep pressing Congress until the bill passes.
