Coinbase, Ripple, and Over 200 Crypto Entities Jointly Urge U.S. Senate to Advance CLARITY Act Vote
Odaily News A joint letter initiated by Stand With Crypto, in collaboration with the Blockchain Association, the Crypto Council for Innovation, and The Digital Chamber, has been submitted to U.S. Senate Majority Leader John Thune and Minority Leader Chuck Schumer. It calls for a prompt full chamber vote on the Digital Asset Market Clarity Act (the "CLARITY Act").
Over 200 crypto companies, industry associations, and community organizations including Coinbase, Ripple, Kraken, a16z, Circle, and Binance.US have signed the letter. The letter states that the CLARITY Act would establish a comprehensive federal regulatory framework for the digital asset market, clarify the division of responsibilities among regulatory agencies, provide a viable registration pathway, protect software developer innovation, and drive more digital asset businesses back to the U.S. market.
The signatories indicate that the bill helps retain innovation, jobs, investment, and market activities within the U.S., further solidifying the nation's leading position in global digital asset innovation.
It is understood that the CLARITY Act received bipartisan support and passed committee review in the Senate Banking Committee last month. Senator Cynthia Lummis subsequently stated that the bill's next step is to proceed to the full Senate for consideration.
Additionally, 160 former national security and law enforcement officials have previously signed a letter in support of the bill. U.S. Treasury Secretary Scott Bessent and White House Crypto Czar Patrick Witt have also publicly called for advancing the legislative process. However, the issue of conflicts of interest between the Trump family and the crypto industry is still regarded as one of the main obstacles hindering the bill's progress. (The Block)
