Former Democratic congressman Tim Ryan has indicated that the CLARITY Act could still pass this year despite the 49-50 Senate vote defeat on September 15. Ryan, who serves as adviser to Shyft and previously represented Ohio in Congress, told crypto.news that 'I think there's still a path' if lawmakers return to negotiations and make concessions. The former congressman emphasized that 'the legitimate concerns around ethics, consumer protection, illicit finance and stablecoin rewards need to be addressed' before the bill can secure sufficient support. Ryan's assessment follows a statement from seven Senate Democrats who voted against cloture, who described the result as 'not the end' of their work on the legislation and pledged to continue bipartisan talks. The distinction between a procedural defeat and final rejection matters significantly, as the motion was not a final vote on passage but rather a procedural step to open debate. Ryan sees a possible agreement during this year's lame-duck session if both sides are willing to compromise, noting that support for clear crypto rules remains bipartisan even though senators have yet to agree on the details.
Senator Cynthia Lummis has intensified the political blame game surrounding the Digital Asset Market Clarity Act (CLARITY Act) failure, stating that 'Democrats hate President Trump more than they like good policy' and 'chose their visceral hatred for President Trump and denied the opportunity to pass important policy legislation before a midterm.' Speaking at CoinDesk's Policy & Regulation event on September 22, Lummis expressed 'dismay, dumfounded and saddened' that the Senate couldn't advance the key procedural vote. The Wyoming Republican, who has been a longtime advocate for crypto legislation, criticized post-vote spin that 'blamed it on Brian Armstrong or blaming it on the industry for being too aggressive' and 'President Trump because he made a bunch of money on a memecoin before he was president.' Lummis noted that Trump revealed in a mid-year financial disclosure in 2026 that he made $1.4 billion off of his various crypto ventures in 2025, the first year of his presidency. Democratic negotiators reject this characterization, with Senator Angela Alsobrooks stating after voting no that she supports regulating digital assets but had consistently sought ethics restrictions covering the current president, future presidents and members of Congress.
The cryptocurrency industry is launching a $30 million political spending campaign targeting Democrats who voted against the Digital Asset Market Clarity Act (CLARITY Act). According to The New York Times, the group Fairshake - funded by the biggest companies in crypto - announced this aggressive campaign to unseat Sen. Jon Husted (R-Ohio) and support former Sen. Sherrod Brown's bid to return to the Senate. The spending represents a significant escalation in crypto's political influence, with the industry now willing to invest millions to influence legislative outcomes. Multiple reports from CoinDesk, Crypto News, and Decrypt confirm that Fairshake plans to repeat its history of targeting Sherrod Brown with a substantial war chest, marking a continuation of the industry's political engagement strategy. However, Democratic campaign operatives have criticized this approach, with former Pentagon spokesperson Chris Meagher noting on social media that 'So, nothing against Republican Susan Collins, who voted against the Clarity Act, and $30 million against Sherrod Brown, who did not even vote on the Clarity Act. But this is a non-partisan group? Got it.'
The CLARITY Act failed to secure the 60 Senate votes needed for cloture on September 15, with the Senate recording 49 votes in favor, 50 against, leaving the motion 11 votes short of the required threshold. Every voting Democrat opposed cloture, while four Republicans voted no, including procedural switcher Thom Tillis, who cast a no vote so he could make a motion to reconsider. The official roll call shows all Democrats who voted opposed cloture, with Democratic Sen. Chris Coons not voting. Republicans Susan Collins, Josh Hawley and Jerry Moran voted against moving forward, while Tillis cast the fourth Republican no vote. As per Senate Daily Press records, Tillis filed a motion to reconsider shortly after the result, preserving a procedural route for leadership to bring the question back. The proposed legislation would set federal rules for digital asset markets and divide responsibilities between the Securities and Exchange Commission and the Commodity Futures Trading Commission. Under the framework, qualifying digital commodities and their spot markets would fall primarily under CFTC oversight, while securities-related activity would remain with the SEC. The House had already passed H.R. 3633 in July 2025 by 294-134, including 78 Democratic votes.
Democratic negotiators reject the claim that opposition amounted simply to hostility toward Trump, with Alsobrooks saying after voting no that she supports regulating digital assets but had consistently sought ethics restrictions covering the current president, future presidents and members of Congress. The White House agreed to some ethics provisions, but Democratic senators maintained they were insufficient. President Trump's financial interests in cryptocurrency became part of the negotiations, with Reuters reporting that Trump disclosed more than $1.4 billion in 2025 income from family crypto ventures, which increased Democratic demands for restrictions on officeholders profiting from digital assets. Another source of disagreement came from banks concerned that stablecoin provisions could encourage deposit outflows and reduce lending capacity. Witt has accused banking lobbyists of helping tank the bill over competitive concerns that stablecoin rewards would compete with interest-bearing bank deposits, stating 'It was a wildfire that was started by larger banks that ultimately spread to community banks, and they sold them a line.'
Despite the 49-50 Senate defeat, the crypto industry demonstrated significant political mobilization through Stand With Crypto. According to Coinbase CEO Brian Armstrong, the organization surpassed four million members six days after the September 15 vote, marking the completion of Coinbase's explicit objective to help Stand With Crypto reach four million advocates before the 2026 midterm elections. Armstrong emphasized that 'the 2024 election proved the importance of the crypto voter,' adding that voters would remember who supported them. The organization reported over 925,000 emails sent to Congress in 2025, alongside 600 events and 100 meetings with lawmakers. By August 2026, Stand With Crypto said CLARITY had generated more than one million calls and emails, demonstrating the organization's ability to prompt political action at scale. However, the 49-50 Senate vote showed that over one million bill-related contacts did not produce the coalition needed to clear the 60-vote threshold, highlighting the challenge of converting large supporter lists into bipartisan legislative support. House Financial Services Committee Chair French Hill has continued pressing for congressional action, with Hill and House Agriculture Committee Chair Glenn Thompson saying on September 15 that the failed cloture vote did not remove the need for statutory rules governing digital assets. Ryan noted that SEC and CFTC actions can help firms now, but legislation would offer firmer long-term rules that businesses making long-term investments need for certainty beyond administrative changes.
