GoKawiil
Tech News
Crypto-industry political action committees have amassed $176 million in contributions ahead of the 2026 midterm elections, according to reporting on campaign finance figures. The funds are intended to back candidates viewed as favorable to digital-asset regulation in Congress.
The Clarity Act, a bill offering light-touch federal regulation for cryptocurrency assets, failed to advance after scrutiny of profits President Trump and his family made from crypto ventures. Lawmakers cited concerns over these financial ties as a factor undermining support for the legislation.
A major legislative priority backed by the cryptocurrency industry failed to secure the 60 votes needed to advance to a full Senate floor debate. The setback comes despite heavy lobbying and campaign spending by crypto interests aimed at shaping favorable regulation in Congress.
The House of Representatives has trimmed its September calendar down to only four voting days, sharply reducing the window for lawmakers to act on pending legislation. Among the bills losing time is the CLARITY Act, considered the crypto industry's top remaining legislative priority in Congress.