Senate Banking Committee Chair Tim Scott believes between 12 and 18 Democrats may back the Digital Asset Market Clarity (CLARITY) Act, despite resistance from Senator Elizabeth Warren, a vocal crypto critic.
Speaking at the Wyoming Blockchain Symposium in Jackson Hole on Tuesday, Scott drew parallels to bipartisan support for the GENIUS Act, saying he expects similar momentum for CLARITY:
“I believe we’ll have between 12 and 18 Democrats at least open to voting for market structure,” Scott stated.
However, he argued that Warren remains a significant obstacle:
“The forces against it, let me just say it clearly, like Elizabeth Warren, [are] standing in the way of Democrats wanting to participate.”
Warren has consistently opposed digital asset measures, warning in July that the CLARITY Act could weaken securities protections by letting non-crypto firms tokenize assets without SEC oversight.
The bill aims to standardize digital asset regulation, clearly defining roles for the CFTC and SEC, and reducing industry uncertainty.
In July, the House passed the CLARITY, GENIUS, and Anti-CBDC bills on a bipartisan basis. Soon after, President Trump signed the GENIUS Act, while the Senate continued work on the remaining measures.
Scott, alongside Senators Cynthia Lummis, Thom Tillis, and Bill Hagerty, had already introduced a framework of guiding principles in June to push forward crypto market structure reform.
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