Tom Lee and BlackRock Back CLARITY Act to Revolutionize Money

Big names on Wall Street are throwing their weight behind the CLARITY Act, a crucial US crypto bill that could reshape how we use money. Tom Lee, the chairman of Bitmine, recently pointed out that the global crypto recovery is already building steam as Europe, Japan, and Russia pass similar regulations. He believes that once the US follows suit, the market will see a massive boost by turning money into programmable software.

Industry heavyweights like BlackRock are also pushing hard for the bill. Samara Cohen, BlackRock's head of market development, called the legislation an important step toward a regulatory framework that protects investors while keeping the US a leader in capital markets. Lee added that if money becomes software, everyday things like loyalty points and online reputations could function as currency, making them perfect for AI agents.

Despite the strong support from giant firms like Goldman Sachs and Fidelity, the bill is currently stuck in political gridlock. The House passed the act back in July 2025, and a Senate committee approved it in May 2026. However, lawmakers are currently arguing over strict ethics rules that would stop the president and members of Congress from launching or sponsoring their own digital assets.

Time is running out for a quick vote. Senate Majority Leader John Thune indicated that a vote is unlikely before the August recess. While policy experts say passing the bill before the recess is highly unlikely, supporters remain hopeful that the bill will still cross the finish line later in the year.