TLDR
- Crypto Council returned to Capitol Hill to defend the CLARITY Act this week.
- BlackRock publicly backed the CLARITY Act for U.S. crypto market structure.
- CCI said CLARITY adds $150 million in funding for FinCEN.
- CCI said the bill expands AML, CFT, and Treasury enforcement powers.
- Bitcoin fell about 3% to $63,250 as the policy debate continued.
The Crypto Council for Innovation returned to Capitol Hill this week to defend the CLARITY Act as BlackRock joined major financial firms supporting the U.S. crypto market structure bill.
Bitcoin traded lower as the policy debate intensified. BTC fell about 3% to $63,250 after losing the $65,000 level, while daily trading volume dropped to $25.1 billion from more than $30 billion.
Crypto Council Pushes Back on CLARITY Act Claims
The Crypto Council for Innovation said Monday marked a key week for the CLARITY Act. The group said it would counter criticism of the bill and respond to claims around enforcement, consumer safeguards, and self-custody language.
CCI rejected claims that the bill is weak on illicit finance and national security. The group said CLARITY expands AML and CFT requirements, supports public-private intelligence sharing, gives Treasury wider authority, and provides an extra $150 million for FinCEN.
1/ It’s Monday and we have a big week ahead for the Clarity Act. As CCI goes back to the Hill, we are countering the Clarity myths and setting the record straight. 🧵 pic.twitter.com/ncGkYHZdTf
— Crypto Council for Innovation (@crypto_council) July 27, 2026
The group also pointed to support from law enforcement voices. Patrick Witt, Executive Director of the President’s Council of Advisors for Digital Assets, thanked the Grand Lodge Fraternal Order of Police for endorsing the bill.
CCI also defended the bill’s consumer protection language. The group said CLARITY, together with the Senate Agriculture Committee-passed Digital Commodities Intermediaries Act, would create broad protections for digital asset customers.
BlackRock Joins Major Firms Supporting the Bill
BlackRock has also publicly supported the CLARITY Act, adding weight to the institutional push for federal crypto rules. Coinbase Vice Chairman Ryan VanGrack wrote on X that “BlackRock is officially on board,” citing a Politico report carrying the firm’s statement.
Samara Cohen, BlackRock’s Senior Managing Director and Global Head of Market Development, called the bill “an important step toward establishing a regulatory framework for digital assets that puts investors first.”
Cohen said the legislation could help the United States shape the next phase of crypto market structure while preserving investor protection and market resilience. Her statement marked BlackRock’s clearest public support for a U.S. digital asset regulation bill.
BlackRock now joins Charles Schwab, Fidelity, Goldman Sachs, and Grayscale among large firms backing the legislation. The group spans traditional finance companies, asset managers, crypto firms, and policy organisations.
Consumer Rules and Self-Custody Remain Key Debates
CCI said the bill was shaped by years of bipartisan work across multiple committees. The group rejected claims that crypto industry insiders wrote the legislation only for industry benefit.
Senator Cynthia Lummis said Democratic lawmakers had contributed to the draft. She said consumer protection and innovation policy “aren’t opposites” as negotiations continue around the bill.
Self-custody provisions remain part of the policy debate. CCI said the Keep Your Coins Act language applies to lawful self-custody and protects neutral software development.
The group said the Blockchain Regulatory Certainty Act language does not restrict enforcement of the Bank Secrecy Act, sanctions laws, anti-money laundering laws, or terrorism-financing rules.
CCI also argued that the absence of market structure legislation could leave U.S. crypto users without clearer protections. The group said activity may continue offshore if Congress fails to set federal rules.
