Stand With Crypto reiterated that advocates have contacted Congress nearly 1 million times as the crypto advocacy organization renewed its campaign for passage of the CLARITY Act. The push gained momentum this week as Fidelity, Goldman Sachs, and the Fraternal Order of Police backed Senate action on the legislation. The CLARITY Act would create a federal regulatory framework for digital assets and clarify whether the Securities and Exchange Commission or Commodity Futures Trading Commission oversees a cryptocurrency or market intermediary.
Stand With Crypto Reports 925,000 Congressional Emails in 2025
Stand With Crypto, a U.S. crypto advocacy organization that says it has around 3 million registered advocates, reiterated that supporters have contacted Congress nearly 1 million times. The group is highlighting the outreach to underscore sustained public engagement with digital asset policy as lawmakers face a narrowing legislative calendar. Its 2025 report said advocates sent more than 925,000 emails to Congress that year and more than 1.1 million since the organization's founding.
The CLARITY Act would create a federal regulatory framework for digital assets and clarify when the Securities and Exchange Commission or Commodity Futures Trading Commission oversees a cryptocurrency or market intermediary. Its provisions could affect exchange registration, asset listings, customer disclosures, and enforcement involving fraud or manipulation.
Fidelity, Goldman Sachs, and Police Union Endorse CLARITY Act
The CLARITY Act gained support this week from major financial institutions and the nation's largest police organization, broadening the coalition pressing senators to advance the legislation.
Financial giant Fidelity urged senators to pass the bill, arguing that nationwide rules would strengthen investor confidence and give businesses greater regulatory certainty. The company reported $7.1 trillion in managed assets and $18 trillion in assets under administration for 2025. Goldman Sachs CEO David Solomon also backed moving the legislation forward, adding another prominent Wall Street voice to the campaign.
The Fraternal Order of Police, which represents 382,000 active and retired officers, endorsed the revised bill after changes preserved protections for criminal investigations, suspicious-transaction holds and digital asset seizures.
House Majority Whip Tom Emmer called the endorsement "big news," saying FOP support would help ensure the United States remains a global leader in digital assets. He added that congressional Republicans and the White House remain committed to working with law enforcement partners and urged senators to pass the bill.
Seven Senate Democrats Oppose Revised Bill Draft
No Senate floor vote has been scheduled, and supporters are urging lawmakers to act before the August recess. Grayscale research chief Zach Pandl warned that the bill could be overtaken by midterm election politics if it does not clear the Senate within the next two weeks.
Senator Cynthia Lummis (R-WY) released revised text July 22 combining work from the Senate Banking and Agriculture committees. The proposal would divide oversight between the Securities and Exchange Commission and Commodity Futures Trading Commission while establishing registration, disclosure, and customer-asset requirements for digital asset businesses. The Senate Banking Committee previously advanced the legislation in a bipartisan 15-9 vote.
However, seven Senate Democrats said the latest draft still falls short on ethics, consumer protection, illicit finance, conflicts of interest and market integrity. Their objections center partly on restrictions governing digital asset activity by elected officials and their families.
The revised bill would prohibit federal officials and their spouses from issuing or sponsoring digital assets for compensation, require divestment or blind trusts in some cases, and impose penalties on intermediaries that knowingly list prohibited tokens. Negotiators are expected to continue discussions, but the unresolved dispute leaves the timing of Senate action uncertain.
FAQ
How many times have Stand With Crypto advocates contacted Congress about the CLARITY Act?
Stand With Crypto reiterated that advocates have contacted Congress nearly 1 million times. The organization's 2025 report said advocates sent more than 925,000 emails to Congress that year and more than 1.1 million since the organization's founding.
Which major institutions endorsed the CLARITY Act this week?
Fidelity, which reported $7.1 trillion in managed assets for 2025, urged senators to pass the bill. Goldman Sachs CEO David Solomon backed moving the legislation forward. The Fraternal Order of Police, representing 382,000 active and retired officers, endorsed the revised bill after changes preserved protections for criminal investigations.
Why do seven Senate Democrats oppose the current CLARITY Act draft?
Seven Senate Democrats said the latest draft still falls short on ethics, consumer protection, illicit finance, conflicts of interest and market integrity. Their objections center partly on restrictions governing digital asset activity by elected officials and their families.
