TL;DR
BlackRock has joined a group of major financial institutions supporting the CLARITY Act, while Fundstrat chairman Tom Lee argues the legislation could accelerate cryptocurrency adoption in the United States. Lee said crypto is recovering as Europe, Japan, and Russia pursue similar regulatory frameworks, giving the industry momentum beyond Washington. The debate now links market structure legislation with a broader vision of programmable money. His argument is striking: once money behaves like software, assets such as loyalty points or reputation could gain monetary functions, especially when controlled by artificial intelligence agents across emerging digital economic systems.
This is why CLARITY Act matters more than many realize https://t.co/sckumOwJxa
— Thomas (Tom) Lee (not drummer) FundstratDirect.com (@fundstrat) July 27, 2026
BlackRock Senior Managing Director Samara Cohen described the measure as an important step toward a digital asset framework that prioritizes investors. She said it could help the United States shape the next phase of market structure while supporting innovation, transparency, resilience, and investor protection. Institutional backing frames regulatory clarity as a competitive capital-markets issue, not merely a crypto concession. Lee also identified Goldman Sachs, Fidelity, Franklin Templeton, and Charles Schwab among supporters, presenting the bill as an initiative with unusually broad financial-industry interest from established global market leaders despite persistent political resistance in Congress.
The bill passed the House in July 2025 with strong bipartisan support and advanced from the Senate Banking Committee on May 14, 2026. However, negotiations have concentrated on ethics and conflict-of-interest provisions that would prevent the president and members of Congress from issuing or sponsoring digital assets. A merged Senate text released July 22 incorporated ethics language. The legislation has progressed substantially, yet its final obstacle is political trust rather than technical market design. Opponents continue seeking concessions, even after revisions intended to address concerns about officials benefiting from crypto projects and weakening broader public confidence.
Senate Majority Leader John Thune said on July 23 that he did not expect a vote before the summer recess, with ethics remaining the principal sticking point. No floor vote is scheduled, making the period before the Senate leaves around August 7 the practical deadline for passage in 2026. Delay could push the CLARITY Act into the post-midterm lame-duck session or into 2027. Lee nevertheless remains hopeful, arguing that circumstances could still change. The uncertainty leaves his programmable-money thesis waiting on a legislative process moving far more slowly than technology inside increasingly automated financial markets.
