Pressure is building on the U.S. Senate to act on crypto market structure legislation before lawmakers leave for August recess. The Solana Policy Institute (SPI) sent a letter to Senate leadership on July 28, 2026, urging swift consideration of the CLARITY Act, arguing the bipartisan bill “delivers what the American crypto ecosystem needs.”
The letter, signed by SPI founder and CEO Miller Whitehouse-Levine alongside President Kristin Smith, lands as the bill nears the end of a legislative process that has stretched on for nearly ten years in various forms. SPI pointed to a striking data point to back its case: Solana's developer base grew 84% year-over-year, part of a broader trend that saw the United States lead global blockchain developer growth in 2024.
Block Joins the Push
SPI isn't alone in lobbying for floor time. Jack Dorsey's fintech company Block also wrote to Senate Majority Leader John Thune and Minority Leader Chuck Schumer, requesting the chamber take up the bill. Block's Chief Legal Officer, Chrysty Esperanza, signed the letter, stating that “durable market structure legislation is necessary to provide regulatory clarity for innovators, market participants, and consumers and to ensure the U.S. remains a global leader in financial innovation.”
“The Clarity Act delivers what the American crypto ecosystem needs.”
What the Bill Would Change
As drafted, the CLARITY Act would replace the current patchwork of state-level crypto rules with a unified national framework. It would also set consumer protection standards and, crucially, establish clearer criteria for classifying digital assets as either securities or commodities — a distinction that has fueled years of regulatory disputes and enforcement actions across the industry.
Support for the bill extends beyond SPI and Block. Coinbase CEO Brian Armstrong and Senator Cynthia Lummis, the Act's primary Senate advocate, have both publicly pushed for approval since a revised version of the legislation began circulating among lawmakers.
A Narrowing Window
With the Senate calendar working against advocates, the letters from SPI and Block frame the coming days as a decisive window. Whether Thune and Schumer bring the bill to the floor before recess will determine if the market structure debate resolves this session or drags into the fall alongside other unfinished legislative priorities.
