The CLARITY Act has faced delays in the Senate, but confidence in its passage remains high among key industry figures.
Crypto commentator BankXRP (@BankXRP) shared an interview in which Coinbase Vice Chairman Ryan VanGrack spoke on the bill’s prospects. VanGrack believes the obstacles are shrinking and is confident that the bill can pass.
VanGrack’s Assessment
VanGrack acknowledged the timing pressures surrounding the bill but suggested they have worked in its favor. He said the pressure has allowed parties to “sharpen their focus and prioritize what really matters.” Concerns that once dominated discussions have grown quieter as negotiators resolved key details.
He noted that law enforcement, retail investors, and asset managers have aligned around a common understanding that the CLARITY Act introduces a comprehensive regulatory framework where none currently exists. That recognition has softened opposition and narrowed the remaining points of contention.
VanGrack described the bill’s current position as being at “the half-yard mark.” He added that “what remains is far narrower than the list of issues that existed even just a few months ago.” He concluded that “we remain very, very close to passage.”
Coinbase Vice Chairman on the Clarity Act: "We remain very, very close to passage.
Obstacles are shrinking, Democrats and Republicans still working together to get it across the finish line.🏛️ pic.twitter.com/59uNJtplzO
— 𝗕𝗮𝗻𝗸XRP (@BankXRP) July 29, 2026
The Bill’s Current Status
The CLARITY Act currently holds 51 confirmed yes votes, with 60 needed to pass. That gap has led some observers to call the bill’s passage unlikely before the Senate’s August 8 recess. VanGrack’s comments push back on the pessimism. Democrats and Republicans continue to work together on the remaining issues, and he said all of the outstanding hurdles “appear surmountable.”
The bill’s path was complicated when Senate Majority Leader John Thune moved the Lindsey Graham Sanctioning Russia Act ahead of the CLARITY Act in the floor schedule. That procedural shift pushed a vote before recess into uncertain territory. Still, supporters point to the first week of August as a viable window.
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Institutional Support Remains Strong
The CLARITY Act carries significant backing from the financial industry. Senator Cynthia Lummis, one of the bill’s key supporters, has publicly listed BlackRock, Goldman Sachs, Fidelity, Franklin Templeton, and SoFi as supporters. These institutions collectively manage trillions in assets and represent mainstream financial infrastructure, not the crypto industry alone.
That support strengthens the case for the remaining uncommitted senators. Only 12 of 45 Senate Democrats have openly opposed the bill. The other 33 have stayed silent. The bill needs just 9 of them to reach the threshold, and recent reports reveal that between 7 and 10 Democrats have signaled support.
VanGrack’s message to the market was one of confidence. As long as bipartisan cooperation holds, passage remains achievable.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are advised to conduct thorough research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
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