FOR IMMEDIATE RELEASE
May 14, 2026
CONTACT:
Kyra Smith (Crapo)
Washington, D.C.—U.S. Senator Mike Crapo (R-Idaho), a senior member of the Senate Banking, Housing and Urban Affairs Committee, today voted to advance the bipartisan Digital Asset Market Clarity Act to establish clear rules of the road for digital assets.
“The CLARITY Act would provide investors and consumers the regulatory certainty needed to flourish in a digital economy,” said Crapo. “Clear, consistent rules will protect consumers while fostering innovation and growth. If we fail to act, we risk ceding leadership in financial technology and leaving the United States behind in a rapidly evolving global market.”
The bipartisan bill is a comprehensive market structure bill that would establish America as the crypto capital of the world. It advanced out of the Committee by a vote of 15-9 and now moves to the Senate floor.
Background:
Cryptocurrency is defined as a digital asset that exists virtually and uses an encrypted network to record and verify transactions, independent from a centralized authority. Senator Crapo supported passage of the GENIUS Act, signed into law in July 2025, as the first step in establishing a first-of-its-kind framework for payment stablecoins. As Senate Finance Committee Chairman, Senator Crapo is leading discussions about how the U.S. tax code can provide a clear framework to ensure further American leadership in the industry.
About Mike Crapo
Senator Mike Crapo has represented Idaho in the Senate since 1999, following three terms in the U.S. House and eight years in the Idaho State Senate. A lifelong Idahoan, he currently serves as Chairman of the Senate Finance Committee.
