Galaxy Digital Says 7 Senate Democrats Hold Key to CLARITY Act

Seven Democratic senators on the Senate Banking Committee have emerged as a critical variable in the push to pass the CLARITY Act, a US digital-asset market structure bill, Galaxy Digital said.

Cointelegraph reported on May 11 that Galaxy Digital, in a recent post on X, said seven Democrats on the committee could play a decisive role in advancing the legislation.

Galaxy Digital classified Senators Ruben Gallego and Angela Alsobrooks as crypto-friendly and "pro-framework." It identified Senators Mark Warner, Catherine Cortez Masto, Andy Kim and Raphael Warnock as "deal-makers" open to negotiation.

Galaxy Digital said Democratic support during the committee markup stage would materially improve the bill's chances of passing the full Senate.

The CLARITY Act is scheduled for review by the Senate Banking Committee on May 15. The panel has 24 members, including 13 Republicans and 11 Democrats, and the bill needs a majority to advance.

If the bill clears the committee, it would move to the Senate floor for debate and amendments before a final vote. Kara Calvert, Coinbase's vice president for US policy, said at the recent Consensus 2026 event that the measure would need at least 60 votes and bipartisan backing to pass the Senate.

Some Democratic lawmakers, however, have sought additional safeguards related to money laundering and the potential misuse of the financial system for illicit activity.

Galaxy Digital also said Senators Elizabeth Warren, Jack Reed, Tina Smith and Chris Van Hollen are likely to oppose the bill, given their long-standing support for tighter crypto regulation.

The CLARITY Act is intended to clarify regulatory authority and market structure for digital assets in the US. If enacted, it could resolve much of the regulatory uncertainty that has persisted for years.

Discussion of the bill had previously stalled after Coinbase withdrew its public support in January. The measure was first introduced in July last year. At the time, Coinbase cited concerns over inadequate legal protections for open-source developers, restrictions on stablecoin interest payments and regulatory issues tied to decentralized finance, or DeFi.