Key Takeaways
- Schumer publicly backed crypto legislation, saying Democrats want “a good crypto bill” to pass in 2026.
- The GENIUS Act passed the Senate 68-30 in 2025, with 18 Democrats voting yes despite Schumer’s earlier resistance.
- Senate Banking Chair Tim Scott has targeted a CLARITY Act markup for May 14 and a floor vote by June or July.
FROM OPPOSITION TO OPENNESS
Schumer’s comment came during what has been a turbulent stretch for U.S. crypto legislation. Earlier in the debate over the GENIUS Act (Guiding and Establishing National Innovation for U.S. Stablecoins Act), Schumer had told Democratic members not to commit to voting for the bill until changes were made. Despite that pressure, the Senate voted 68-30 to pass the GENIUS…
