The Blockchain Association brought member executives to Capitol Hill this week and reported meeting with more than half the Senate, pressing lawmakers to preserve a key developer-protection provision of the Digital Asset Market CLARITY Act before an August recess deadline tightens the floor-vote calendar.
The central ask is preserving Section 604 of the bill, the Blockchain Regulatory Certainty Act (BRCA), exactly as the Senate Banking Committee advanced it on May 14. The BRCA draws a statutory line between open-source developers who never custody customer assets and financial intermediaries who do, shielding the former from federal money-transmitter classification under the Bank Secrecy Act.
Sixty-one industry executives signed a June 9 letter to Senate Majority Leader John Thune and Minority Leader Chuck Schumer calling on the full chamber to pass the CLARITY Act with the BRCA intact. The signatories span direct competitors: Brian Armstrong of Coinbase, Jack Dorsey of Block, Anatoly Yakovenko of Solana Labs, Hayden Adams of Uniswap, Matt Huang of Paradigm, and Evgeny Gaevoy of Wintermute, among others.
The Senate Banking Committee passed the CLARITY Act 15 to 9 on May 14 with all 13 Republicans plus Democrats Ruben Gallego and Angela Alsobrooks. Both qualified their votes: Gallego said he was "not afraid to vote no" on the floor if outstanding issues remain; Alsobrooks described her committee vote as a commitment to keep negotiating.
