The Encryption Political Action Committee increases funding for the primaries, and the “Clarity Act” is set to enter a key window for advancement

BlockBeats News, June 22 — According to Crypto in America, before the U.S. Congress enters a two-week recess this Thursday, the crypto industry is accelerating efforts to advance the Clarity Act. Senators and industry representatives will continue negotiations on the Agriculture Committee text, ethical provisions, anti-money laundering issues, and other matters, aiming to push the bill into the Senate voting process after the recess.

Meanwhile, the Crypto Political Action Committee continues to increase support for pro-crypto candidates. Fairshake's Protect Progress has invested approximately $5.5 million in Democratic primary candidate Adrian Boafo for Maryland's 5th district, and about $1.5 million in the re-election campaign of Ritchie Torres, the House Representative for New York's 15th district. Blockchain Leadership Fund, supported by Anchorage Digital and Chainlink, is also involved in supporting Boafo.

Additionally, Fairshake spent about $12 million last week to help Alabama Republican Senate primary candidate Barry Moore secure a victory.

Industry organization Digital Chamber will hold lobbying activities on Capitol Hill this week to promote legislation for the Clarity Act and crypto tax rules. Sources say some gaming industry groups hope to include provisions banning prediction market platforms from sports betting, but such content is unlikely to garner enough support.