More than 200 organizations from the cryptocurrency sector have called on Senate leadership to schedule a vote on the CLARITY Act, a legislative proposal designed to establish a comprehensive regulatory framework for digital assets in the United States. The coordinated letter, directed at Senate Majority Leader John Thune and Minority Leader Charles Schumer, highlights the urgent need to finalize the bill and bring clarity to the evolving market.
The CLARITY Act aims to clarify regulatory authorities, outline workable registration pathways, and protect software developers while integrating more crypto activity into regulated U.S. markets. Endorsed by major industry players including Coinbase, Circle, Ripple, and Binance.US, the letter emphasizes the opportunity to foster innovation, secure jobs, and maintain American leadership in the global digital asset economy through bipartisan legislative action.
The coalition stressed that digital asset markets are increasingly global and vital to the future of financial infrastructure. They warned that without clear federal guidance, U.S. crypto activity risks shifting to offshore jurisdictions that offer less transparency, weaker consumer protection, and reduced accountability. The CLARITY Act is positioned as a means to ensure that the next generation of financial infrastructure is developed and regulated under U.S. law and oversight.
Support for the bill also comes from the Blockchain Association and a group of former national security, intelligence, and law enforcement officials. These stakeholders argue that a lack of clear federal regulation creates gaps exploited by illicit actors and complicates law enforcement efforts in addressing financial crimes related to digital assets.
Last month, the Senate Banking Committee approved its portion of the crypto legislation after months of delay, but the bill still faces hurdles before a full Senate vote. Industry advocates urge swift action to capitalize on the momentum, underlining the CLARITY Act’s role in securing a durable and transparent market structure that benefits both consumers and innovators.