The crypto industry’s best shot at regulatory clarity in 2026 is running into a familiar obstacle: politics. Democrats are making their final stand against the CLARITY Act, and their argument boils down to one number: $2.3 billion in Trump family crypto assets that the bill does nothing to address.
The Digital Asset Market Clarity Act, formally known as H.R. 3633, would carve up oversight of digital assets between the SEC and the CFTC. It passed the Senate Banking Committee on May 14 with a 15-9 vote, picking up just enough bipartisan support to squeak through. But getting it to the Senate floor is proving far more difficult than getting it out of committee.
The ethics standoff
Sen. Elizabeth Warren has been leading the charge, demanding that the bill include provisions requiring disclosure or outright restrictions on digital asset holdings by government officials. Her target is unmistakable.
The Trump family’s reported $2.3 billion in crypto interests creates what Democrats view as a textbook conflict of interest.
