- More than 200 crypto companies and advocacy groups have urged Senate leaders to bring the CLARITY Act to a floor vote.
- Industry giants including Coinbase, Ripple, Kraken, Circle, and Andreessen Horowitz backed the legislation.
- Supporters argue the bill would provide regulatory certainty, while critics continue to raise ethics concerns.
A coalition of more than 200 digital asset companies, trade organizations, and grassroots advocacy groups has formally called on Senate leaders John Thune and Chuck Schumer to bring the Digital Asset Market Clarity Act, commonly known as the CLARITY Act, to the Senate floor for a vote. The latest push marks one of the largest coordinated lobbying efforts from the cryptocurrency industry in recent years.
The initiative was organized by Stand With Crypto alongside the Blockchain Association, Crypto Council for Innovation, and The Digital Chamber. According to the organizations, nearly three million advocates across all 50 states have been mobilized to support the legislation, reflecting growing pressure from both industry participants and crypto users seeking regulatory clarity.
Major Crypto Firms Back the Legislation
The letter received support from some of the largest names in the digital asset sector, including Coinbase, Ripple, Kraken, Circle, Binance US, and venture capital firm Andreessen Horowitz. Signatories argued that the CLARITY Act would establish a comprehensive federal framework for digital asset markets while creating clearer regulatory boundaries for the industry.
Supporters believe the legislation would define agency responsibilities, introduce workable registration pathways for crypto businesses, protect software developers from unnecessary regulatory burdens, and encourage more digital asset activity to remain within U.S. jurisdiction. Industry leaders argue that these measures would reduce uncertainty and create a stronger environment for innovation and investment.
Industry Sees Opportunity for U.S. Leadership
According to the coalition, the United States is uniquely positioned to lead the next generation of financial innovation due to its deep capital markets, strong legal framework, entrepreneurial culture, and long-standing leadership in global finance.
Backers of the bill contend that regulatory clarity could help keep crypto-related jobs, investment capital, and technological development within the country rather than pushing companies toward overseas jurisdictions. The letter emphasized that Congress has an opportunity to strengthen America’s role as a global leader in digital asset innovation while establishing clear rules for market participants.
Momentum Builds but Challenges Remain
The latest appeal follows the Senate Banking Committee‘s bipartisan approval of the CLARITY Act last month. Senator Cynthia Lummis recently highlighted the bill’s progress, noting that committee approval was only the first step and that attention is now shifting toward securing a full Senate vote.
Additional support has emerged from outside the crypto industry. Last week, the Blockchain Association submitted a separate letter signed by 160 former national security and law enforcement officials who argued that the legislation could improve oversight capabilities and strengthen enforcement efforts. Treasury Secretary Scott Bessent and White House crypto adviser Patrick Witt have also publicly voiced support for advancing the bill.
Despite growing momentum, obstacles remain. One of the most significant challenges involves ongoing ethics concerns surrounding the Trump family’s connections to the cryptocurrency industry. Those concerns could continue to fuel debate as lawmakers consider whether the legislation should advance to a final vote.
