WASHINGTON (September 14, 2026) — Today, Paul Weinstein Jr., Senior Fellow at the Progressive Policy Institute (PPI), released the following statement regarding the upcoming Senate vote on the CLARITY Act, scheduled for September 15:
“PPI would welcome considerably more clarity with regards to the crypto industry. Unfortunately, the so-called CLARITY Act fails to provide it. Despite some last minute concessions by Republicans, the bill still falls short of providing robust money-laundering and ethics safeguards needed to crack down on illicit activities and corruption. Just as concerning, the bill fails to permanently close the deposit interest loophole that would drain deposits from community banks that serve as the primary source of credit for Main Street America.
“PPI encourages senators to vote against the CLARITY Act as currently constructed, and work to develop legislation that would actually provide the safeguards needed to create a robust stablecoin sector.”
Founded in 1989, PPI is a catalyst for policy innovation and political reform based in Washington, D.C. Its mission is to create radically pragmatic ideas for moving America beyond ideological and partisan deadlock. Find an expert and learn more about PPI by visiting progressivepolicy.org. Follow us at @ppi.
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Media Contact: Ian O’Keefe – iokeefe@ppionline.org
