Remind our Senators: No Votes for Crypto Regulation Without Corruption Guardrails

Call BOTH of your Senators.

Call Script

My name is __________. I am a constituent, and my zip code is _______. I am a member of Indivisible SF.

I’m alarmed that President Trump is accepting cryptocurrency bribes from billionaires, big tech, and foreign governments, including the $1.4 billion that the Trump family received last year from crypto ventures while their investors lost $3.8 billion. I understand that you do not support crypto legislation that does nothing to stop crypto-enabled corruption. I’m asking you to:

• oppose the CLARITY Act when it comes up for a vote

• urge wavering Democratic colleagues like Senator Gallego to oppose it, and 

• generally to speak out forcefully against corruption at the highest levels of government. 

I expect you to actively oppose this corruption. Thank you.

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Background

Last year, the House passed the CLARITY Act (H.R. 3633), a bill promoted as “crypto regulation” which actually serves the billionaires and bad actors at the center of today’s crypto chaos. This bill does nothing to protect consumers, close money laundering loopholes, or stop the biggest threat of all: Trump’s crypto-fueled bribery machine. Senate leadership plans to begin consideration of the CLARITY Act next week. It could come up for a floor vote before the Senate’s August recess, possibly before the House recess begins on July 23.

Here’s why the CLARITY Act is dangerous:

• Creates a loophole for companies to “self-certify” stocks as crypto tokens, basically allowing corporations to create their own unregulated currencies and stripping away the Securities and Exchange Commission’s regulatory authority, thereby risking $120 trillion in retirement, pension, and other investor savings. (A weak federal government similarly allowed for private currencies in the mid-1800s, leading to the biggest banking system failure in the nation’s history other than the Great Depression in the 1930s.)

• Allows FDIC-insured banks to speculate like crypto hedge funds and hold volatile collateral, putting taxpayers and the banking system at risk. (See above re: bank failure.)

• Fails to close loopholes in money laundering and sanctions evasion, leaving gaps that enable criminals and foreign adversaries to use services like mixers and decentralized exchanges to move money through our financial system.

• Pushes oversight of crypto tokens into the underfunded Commodity Futures Trading Commission, blocks Securities and Exchange Commission-required disclosures, and weakens antifraud protections.

For more background, watch actor-filmmaker Ben McKenzie’s documentary, Everyone Is Lying to You for Money, or read his and journalist Jacob Silverman’s Easy Money: Cryptocurrency, Casino Capitalism, and the Golden Age of Fraud. 

Please call or write Senators Padilla and Schiff to let them know that you’re concerned and that you’re monitoring their actions.

References

Crypto bill faces make-or-break moment ahead of August recess, The Hill, 7/11/26

Trump Earned Over $1 Billion From Crypto Ventures, New Filings Show, Time Magazine. 7/3/26

Nearly a Million Investors Lost a Total of $3.8 Billion on Trump Crypto Coin, NY Times. 7/4/26