Senate urged to pass CLARITY Act before year-end as crypto market hits $3.2T

With the stablecoin market up 49% in 2025 to $306 billion following the GENIUS Act, advocates are pressing the Senate Banking Committee to move quickly on the CLARITY Act — the companion legislation that would extend federal oversight to the broader digital asset market. The bill covers exchange registration, SEC/CFTC jurisdictional lines, token-lifecycle disclosure, and legal protections for non-custodial technology.

The stakes are concrete: U.S.-based crypto developer headcount has fallen 51% over the past decade, and nearly 90% of global centralised exchange volume runs offshore. The CLARITY Act already cleared the House with 294 votes, a margin that signals genuine bipartisan backing rather than a partisan push.

A near-term committee markup is seen as essential to keeping a path to the President's desk open before the legislative calendar closes. Senators Tillis and Alsobrooks…