Clarity Act Faces Key Senate Vote as Crypto Industry-Backed Study Cites 232,000 Jobs
Key Takeaways
- •A cloture vote on the Clarity Act is scheduled for September 15, requiring 60 Senate votes to advance the bill to debate.
- •Ripple CLO Stuart Alderoty, also president of the National Cryptocurrency Association, publicly urged senators to pass the bill, framing a yes vote as support for jobs and economic growth.
- •An NCA-commissioned report estimates crypto firms will directly employ about 34,000 U.S. workers in 2026, with a total employment effect of roughly 232,000 jobs including supplier and spending-related roles.
- •The report projects crypto-linked activity could contribute more than $55 billion to U.S. GDP by 2026, with average crypto-related salaries of about $133,000 versus a national average of roughly $64,000.
- •The House passed the bill 294-134 in July 2025 and the Senate Banking Committee approved a modified version 15-9 in May 2026, so both chambers must pass an identical version before the bill can become law.
The Clarity Act faces a critical test in the U.S. Senate as Ripple Chief Legal Officer Stuart Alderoty argues that crypto regulatory clarity could boost job creation and economic growth in America.
Alderoty called on senators to back the bill ahead of a vote scheduled for September 15. In an August 30 article, he said that voting for the bill would mean voting for jobs and economic growth.
https://x.com/AttorneyGeokb4/status/2094222323091976569
However, his claim is a policy argument rather than actual proof that the legislation would create jobs. Alderoty is also president of the National Cryptocurrency Association (NCA), which commissioned a study on the economic effects of the cryptocurrency sector.
The vote comes amid a broader push in Washington to set federal rules for digital assets, following the enactment of stablecoin legislation in 2025. The Clarity Act addresses the other half of that agenda: the regulation of tokens, trading venues, and market participants that do not fall under existing frameworks — an area where firms have long said overlapping and unclear SEC and CFTC jurisdiction has pushed business overseas.
Clarity Act Debate Highlights Crypto Employment
According to the report "Crypto at Work," conducted by the Pragmatic Policy Group on behalf of the NCA (PDF: ), crypto firms are expected to provide approximately 34,000 full-time equivalent jobs in the United States in 2026.
The report estimates the total employment effect of the crypto industry at approximately 232,000 jobs. Of those, roughly 75,000 are supplier jobs, while 123,000 are related to employee spending.
Notably, the 232,000 workers in that figure do not work directly for cryptocurrency organizations; rather, they are affected by the industry's broader economic activity in areas such as cloud computing, law, accountancy, real estate, and transport.
The estimate draws on the 2024 Bureau of Economic Analysis Input-Output tables, Bureau of Labor Statistics data, and an industry output figure of $23.22 billion, with Statista used as source material.
Crypto Could Add $55 Billion to GDP
The NCA report suggests that crypto-linked economic activity could add more than $55 billion to U.S. GDP by 2026. The NCA also reports around $31 billion in income for employees involved with crypto.
Average salaries for these positions are expected to be around $133,000, compared with a national average salary of roughly $64,000.
By state, California is projected to have the highest number of jobs at approximately 57,649, followed by New York with 53,766 and Texas with 26,536. Washington and North Carolina account for approximately 15,097 and 9,524 jobs, respectively.
These figures are economic estimates, not live payroll data, and the report was prepared at the request of an industry association headed by Alderoty.
Clarity Act Heads Toward September 15 Vote
According to the Senate schedule (), a cloture vote on H.R. 3633 is set for 2:15 p.m. EST on September 15. The vote would allow debate and consideration of the Clarity Act, not determine whether the bill becomes law.
Passing cloture requires 60 votes, meaning Democrats would need to join Republicans to advance the bill. The House vote tally — 294 in favor with 134 against — showed substantial bipartisan support in that chamber, but Senate Democrats have raised concerns during earlier consideration of the bill, including questions about how the SEC-CFTC jurisdictional split and treatment of digital assets would work in practice.
The bill received House approval in July 2025 by a 294-to-134 tally (), while in May 2026 the Senate Banking Committee approved a modified version by a 15-to-9 vote.
The Clarity Act would establish federal standards for digital assets, exchanges, broker/dealers, and other activities, while dividing jurisdiction between the SEC and CFTC.
Even if cloture passes, the bill would still be subject to debate, amendments, and a final passage vote. Because the Senate modified the House bill, both chambers must pass an identical version before it can become law.
The NCA report quantifies the economic contributions of the crypto sector but does not project how many jobs the bill itself would create.
