Crypto Leaders Push for Senate Vote on Blockchain Protection Bill

More than sixty top crypto CEOs and founders wrote a letter to Senate leaders on June 9, urging the full Senate to approve the Digital Asset Market Clarity Act while keeping protections for blockchain developers in place. The signatories, representing companies such as Coinbase, a16z crypto, Uniswap, Solana Labs, Kraken, and Ledger, focused on Section 604 of the bill—known as the Blockchain Regulatory Certainty Act (BRCA)—which shields non‑custodial software developers from Bank Secrecy Act duties and federal money‑transmission charges. They argued that without the BRCA, the bill would fail to give the legal certainty necessary for U. S. blockchain innovation. The Clarity Act, officially H. R. 3633, passed the House in July 2025 with a bipartisan majority of 294‑134. It stalled twice in the Senate, most notably when Coinbase withdrew support over a proposed ban on stable‑coin rewards. In May 2026, the Senate Banking Committee cleared the legislation by a 15‑9 vote, with two Democrats joining Republicans. The bill was added to the Senate calendar on June 1, and analysts estimate a 60‑75% chance of becoming law that year, with a possible presidential signature in early August. Senator Cynthia Lummis cautioned that the celebration should wait until the bill actually passes.The BRCA codifies a 2019 FinCEN guideline that developers who do not hold or control user funds are not considered money transmitters under the Bank Secrecy Act. This distinction separates open‑source protocol work from intermediated financial services like exchanges and hosted wallets. DeFi Education Fund and Coin Center see the BRCA as essential, warning that without it developers risk prosecution for creating permissionless software. The letter also requested that the Senate preserve other developer‑friendly provisions: Section 601, which exempts developers from SEC registration, and Section 207 of the Digital Commodity Intermediaries Act, which offers similar relief under commodity law. The bill still faces a tough journey: the Senate Banking and Agriculture Committee versions must merge before a full floor vote, requiring 60 votes to overcome a filibuster. Afterward, the House and Senate texts need reconciliation before reaching the President’s desk. Some Democrats, led by Senator Elizabeth Warren, contend that anti‑money‑laundering provisions are still too weak.