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DCG backs Clarity Act draft as Senate push nears August recess

The Clarity Act faces resistance from some Democrats, including concerns tied to stablecoin yields and a separate draft that would restrict officials from promoting crypto.

Reported · Written up by our desk · Regulation

Digital Currency Group, a major crypto conglomerate with more than 200 companies in its portfolio, has voiced support for the Clarity Act in its current form, urging lawmakers to pass the bill before Congress leaves for the August recess. Bitcoin Magazine reports that DCG’s backing adds to bipartisan momentum for legislation intended to set out crypto regulation in the United States.

Lawmakers have been working on the Clarity Act since last year, with Republicans passing it in 2025. The measure has since been stuck in a deadlock this year, with banking leaders raising concerns that relate in part to stablecoin yield.

The article also points to fresh friction within the debate. Some lawmakers have objected to a new draft circulating last week that would ban officials and their families from issuing or promoting crypto, a change that opposition lawmakers say is problematic.

Opposition arguments highlighted in the coverage include criticism from Senator Elizabeth Warren, who has said the bill would allow President Donald Trump to profit from crypto and could benefit criminals. Bitcoin Magazine also notes that a group of Democrats recently said the current version falls short, while major institutions and industry groups including Fidelity and Goldman Sachs have argued that a revised bill works as currently written.

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