CLARITY bill votes failed to pass, or will trigger more cryptocurrency political action committee input in key constituencies

What happened?

Last week, the United States Senate failed to advance a piece of legislation on market structure called crypto asset , an outcome that could prompt crypto industry groups to step up their bids for key congressional seats in the 2026 midterm elections just 42 days before they are due.

On September 15, Senators failed to pass the digital asset CLARITY Act with 49 votes in favor and 50 against. The bill's chances of passage are greatly diminished as Congress has a limited number of days remaining until 2027.

While some crypto industry advocates have not ruled out the possibility of CLARITY being voted on again before the next session of Congress, at least one industry political action committee (PAC) is unwilling to risk waiting.

Fairshake takes aim at Ohio Senate elections

Fairshake, a PAC backed by Coinbase and Ripple Labs, is currently planning to invest $30 million against Ohio Senate candidate Sherrod Brown. Brown served as chairman of the Senate Banking Committee during the Democratic majority and has implemented several policies unfriendly to the crypto industry that would hinder another vote on the bill if he were returned to the senate.

Economist Paul Krugman wrote on Substack Tuesday: "If Brown wins, he could very well be one of the key votes - or two - for Democratic control of the Senate. And now we know that Democrats are not above reproach; they can't escape money and even facts from the crypto industry".

Steve Gannon, a partner at law firm Davis Wright Tremaine, told Cointelegraph that the voting booths for the CLARITY bill make it very clear to the industry who are reliable long-term supporters and who aren't. He added: "It will be difficult for those of us who voted against to have the industry support them financially in the midterms".

Policy advocates say the CLARITY bill could get a second chance at passing during an impasse.

Brown was previously an Ohio state senator, and lost his 2024 re-election bid to Republican Bernie Moreno when Fairshake spent about $41 million against the Democrat. The PAC also spent more than $130 million on advertising during the 2024 election cycle, which provided a preview of how it might fare if the CLARITY bill did not pass before the midterm elections.

Cointelegraph sought comment from Brown's campaign team, but received no immediate response.

How will the crypto industry respond to voting for CLARITY in elections?

Stand With crypto , an initiative launched by Coinbase in 2023, warned that lawmakers who failed to push the CLARITY bill through Congress last week could face dire consequences for their votes in the 2026 midterm elections.

The organization's ranking of political figures based on their positions on crypto issues could have a significant impact on the election, as well as how PACs aligned with industry invest money and target specific candidates to influence voters. This election may change control in both houses of Congress and give the market structure bill another chance at passing.

Stand With crypto Executive Director Mason Lynaugh said: "The voting results for the CLARITY Act make it clear which officials are on our community's side and who is against us. We will ensure that our advocates vote accordingly in this election, as well as future elections".

As of Monday, Fairshake and its affiliated PACs Defend American Jobs and Protect Progress had not declared any expenditures to the Federal Election Commission (FEC) after voting on the CLARITY Act.

FEC filings also show that the Fellowship, another crypto industry PAC funded by Cantor Fitzgerald and Anchorage Digital, as well as the Digital Freedom Fund backed by Gemini co-founders Tyler Winklevoss and Cameron Winkleyvoss, had no record of spending after voting on CLARITY.

How many chances are left to save the CLARITY bill?