The CLARITY Act has faced months of delays, negotiations, and missed deadlines. Now it faces a fresh round of criticism from within the Senate.
Crypto commentator John Squire (@TheCryptoSquire) posted a video of Senator Chris Van Hollen questioning the bill during a hearing with SIFMA President and CEO Kenneth E. Bentsen, Jr.
Squire shared a strong message. Americans have waited long enough, and the Senate needs to stop delaying the CLARITY Act.
🚨 💥🇺🇸CLARITY UNDER ATTACK💥 🇺🇸🚨
While the rest of the world is building clear crypto rules, Senator Van Hollen says the CLARITY Act isn’t ready.
Americans have waited long enough.
Stop delaying. Start leading. pic.twitter.com/1g93yieue5
— John Squire (@TheCryptoSquire) August 6, 2026
Van Hollen’s Concerns
Senator Van Hollen cited a Wall Street Journal editorial board piece to make his case. He quoted the headline directly: “Clarity for Crypto, Sort of.” He described the piece as a warning, stating that the “bill is not ready for prime time.”
Van Hollen’s concern centered on the risk of investment migrating to shadow markets with little or no investor protection. He asked Bentsen whether that scenario would concern him.
Bentsen’s Response
Bentsen agreed on the concern but offered important context. He made clear that SIFMA has long supported Congressional action in the crypto space. He said the bill that came out of the Senate Banking Committee had several good things in it, citing clarifications on bank permissibility, portfolio netting, and rules around DeFi participants.
His concern was specific. When the bill moved to the Agriculture Committee, some of those clarifications did not carry over. Bentsen acknowledged the bill as it currently stands has issues, but also noted that SIFMA had not seen the final version. He agreed with the Wall Street Journal editorial.
The Bigger Issue
Squire’s post put the exchange in a larger context. The CLARITY Act has already cleared the House. It passed the Senate Banking Committee in May. It has sat on the Senate Legislative Calendar since the beginning of June. The Senate just confirmed it will not vote on the bill before the August recess, pushing the timeline to September at the earliest.
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Senators Cynthia Lummis and John Kennedy both pushed for a vote before recess but failed. While the disputes continue, other jurisdictions are establishing clear crypto regulations. Squire’s point is that the rest of the world is moving while the U.S. stands still.
The Case for Action
The bill needs 60 votes to pass. It holds 51 confirmed votes, with up to 10 Democrats now showing support. The votes are reachable, and the concerns Bentsen raised are specific and addressable. Congress knows what needs fixing, and September is the next opportunity. The question is whether the Senate returns with a resolution or another round of deliberation.
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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