Office of U.S. Senator Raphael Warnock
September 28, 2026 — Response to Mr. Duvall
Dear Mr. Duvall,
Thank you for contacting me to share your support for H.R. 3633, the Digital Asset Market Clarity (Clarity) Act.
I have long believed that adopting new, innovative technologies can pay dividends in the future. Part of what makes Georgia and our nation great is investing in these innovative products and services to ensure we remain global economic leaders. Cryptocurrencies and other digital assets, which more and more Americans have begun to embrace and trust, are significant examples of innovation in our financial system.
I hope this technology will develop and yield positive returns for all of society, including those individuals and communities historically left out of our financial system. While cryptocurrencies and blockchain technology have promising potential and capabilities, Congress must take the risks seriously and ensure that bad actors cannot use these new technologies to exploit others or our financial system.
Recent developments across the digital asset industry have demonstrated that a comprehensive regulatory framework is necessary to protect investors from firms engaging in undue risky practices, market misconduct, fraud, and other abusive practices, and to protect the health of our overall economy. As a member of the Senate Banking Committee, I am committed to creating a safe regulatory environment for investors to participate in the digital asset space while providing robust oversight over federal regulators' enforcement practices within the industry.
That is why, for example, on June 17, 2025, I voted for S. 1582, the GENIUS Act. This legislation establishes a regulatory framework for payment stablecoins and was signed into law in July 2025 by President Trump. I also supported S.J.res. 3, a joint resolution to nullify an Internal Revenue Service (IRS) rule which required the reporting of some digital asset sales to the IRS, which passed the Senate on March 4, 2025.
On May 29, 2025, Representative Hill introduced H.R. 3633, the Digital Asset Market Clarity (Clarity) Act. This bill would establish a regulatory framework for digital assets. On July 17, 2025, this bill passed the U.S. House of Representatives and on September 15, 2026, was considered by the Senate. This legislation failed in the Senate by a bipartisan vote of 49-50. I was among those who voted against the legislation. While I was ready to continue negotiations and make reasonable compromises to provide much-needed regulatory certainty, I could not ignore the President illegally enriching himself at the expense of the American people.
My work is not done today. No matter our difference of opinion on this vote or others, I look forward to continuing to work with consumers, investors, and industry stakeholders to pass a market structure bill into law that protects consumers and ensures that there are clear rules for digital asset investors, customers, and businesses so that Americans can innovate and prosper by owning their future in our financial system.
Thank you again for contacting me. Please do not hesitate to do so again in the future if I may be of assistance to you or your family.
Sincerely,
Reverend Raphael Warnock
United States Senator
