The crypto industry and banking groups are intensifying lobbying in senators' home states before the Senate's Sept. 15 procedural vote on the Clarity Act. The bill would define which tokens are securities or commodities and determine which regulators oversee them, addressing what crypto companies call legal ambiguity. Supporters say the legislation would help retain jobs, capital and innovation in the United States, while Democrats and some Republicans argue it lacks sufficient money-laundering and ethics safeguards and could allow digital tokens to compete with bank deposits. Stand With Crypto says its supporters contacted members of Congress nearly 50,000 times in August, while the broader crypto industry has spent at least $190 million on the upcoming elections. The Independent Community Bankers of America is mobilizing local bankers against a stablecoin (cryptocurrency designed to maintain a stable value) provision it says could hurt Main Street lending. Crypto companies are pressing for passage this year because a possible Democratic takeover of the House in November could end what they view as a rare legislative opportunity.