THE CLARITY ACT IS DANGEROUS AND IT MUST BE STOPPED
QUICK READ: The Senate could possibly vote this week on the Clarity Act, a bill disguised as “crypto regulation,” which doesn’t protect consumers, doesn’t close money laundering loophole, and doesn’t stop the biggest threat of all—Trump’s crypto-fueled bribery machine. Instead, it rewards the billionaires and bad actors at the center of today’s crypto chaos, who’ve spent hundreds of millions in campaign contributions and are now expecting the Act’s passage as their reward.
CONTENTS:
BACKGROUND
Cryptocurrency is essentially computer code proponents claim can, or someday will, replace money in financial transactions. Today, however, crypto has no legitimate use; other than redistributing wealth from ordinary people to already wealthy investors, its only practical uses are tax evasion, money laundering, fraud, speculation, and crime.
Crypto billionaires—the largest corporate political spender in the 2024 election ($170 million) and so far in the 2026 midterms ($189 million)—having succeeded last year in the House, are now demanding the Clarity Act’s Senate passage.
Written by crypto lobbyists, the bill, a giveaway to an industry known for spectacular collapses, endless scams, and political corruption, is fundamentally flawed:
Fails to provide consumers and investors with strong protections against fraud, scams, and abuse;
Guts long-standing securities law and undermines SEC’s authority;
Threatens financial stability and economic health;
Enables illicit finance, money laundering, and trafficking;
And, most importantly, ignores the Trump family’s and other oligarchs’ massive conflicts of interest and daily corruption.
A good digital assets bill would:
Protect consumers’ pocketbooks and broader financial security;
Ensure these assets didn’t become the major vehicle for criminal networks, terrorist organizations, or rogue states to engage in illicit transactions;
Preclude senior Executive Branch members (the president, vice-president, cabinet members, and senior government officials), Congresspeople, and their families from profiting in any way from them.
Senators cannot enable more of Trump’s corruption or gamble away our financial stability just to appease crypto billionaires. Unless the legislation is dramatically rewritten, our MoCs must convince colleagues to join with them in killing this dangerous legislation.
ACTION One: Call the Senate.
Script for Oregon Senators
SEN. MERKLEY: Portland office: 503-326-3386 | D.C. office: 202-224-3753
My name is [--] and I'm a constituent from [city], Oregon [zip code].
A vote for this bill is a vote for Trump’s crypto corruption and a vote for the crypto billionaires demanding that lawmakers do their bidding, while leaving workers, retirees, investors, and the economy exposed. I am proud that my Senators are speaking out against this corrupt legislation. Unless the legislation is dramatically rewritten to preclude government employees and their families from profiting from crypto, to protect consumers, and to meaningfully regulate the crypto industry, I expect you to do everything in your power to convince your colleagues to filibuster this bill and kill any similar legislation that fails to include these safeguards.
SEN. WYDEN:
Portland office: 503-326-7525 | D.C. office: 202-224-5244
My name is [–] and I’m a constituent from [city], Oregon [zip code].
A vote for this bill is a vote for Trump’s crypto corruption and a vote for the crypto billionaires demanding that lawmakers do their bidding, while leaving workers, retirees, investors, and the economy exposed. I am proud that my Senators are speaking out against this corrupt legislation. Unless the legislation is dramatically rewritten to preclude government employees and their families from profiting from crypto, to protect consumers, and to meaningfully regulate the crypto industry, I expect you to do everything in your power to convince your colleagues to filibuster this bill and kill any similar legislation that fails to include these safeguards.
Script for Republican Senators
D.C switchboard: 202-224-3121
My name is [–] and I’m a constituent from [city], [state], [zip code].
A vote for this bill is a vote for Trump’s crypto corruption and a vote for the crypto billionaires demanding that lawmakers do their bidding, while leaving workers, retirees, investors, and the economy exposed. I expect you to support your constituents who believe the crypto industry has too much power and needs to be regulated and that Trump's corruption must be stopped. Grow a backbone and do your job. I have my eye on you.
FURTHER READING
Reich Urges Vote “No” on Crypto Bill Next Week
Congress Should Reject Proposed Tax Breaks for Crypto
Democrats Threaten to Sink Clarity Act Over Trump’s $1.4B Crypto Windfall
Warren Presses CFTC on Trump Interference as CLARITY Act Advances
Trump’s crypto riches loom over Clarity Act talks to ban conflicts for U.S. officials
CLARITY Act: A crypto Cash Grab that is a Consumer Catastrophe
