Crypto Coalition of Over 200 Companies Presses Senate Leaders to Bring Clarity Act to Floor

Bitcoin Magazine

Crypto Coalition of Over 200 Companies Presses Senate Leaders to Bring Clarity Act to Floor

Stand With Crypto and more than 200 companies and organizations sent a letter to Senate Majority Leader John Thune and Minority Leader Chuck Schumer on June 7, urging them to schedule the Digital Asset Market Clarity Act for a full Senate vote.

The letter — signed by executives and representatives from some of the most recognized names in digital finance — frames the moment as a test of American leadership in the global race to govern digital asset markets. 

Signatories include Coinbase, Circle, Ripple, Kraken, Andreessen Horowitz, Binance.US, Multicoin Capital, Riot Platforms, and Uniswap Labs, among dozens of state-level blockchain coalitions and university blockchain clubs spanning all 50 states.

“Digital asset markets are global, growing, and central to the future of financial infrastructure,” the letter states. “The question before Congress is whether that future will be built in the United States — under U.S. law, U.S. oversight, and American values — or continue moving to offshore jurisdictions with less transparency, weaker consumer protections, and limited accountability.”

The letter was led by four organizations: Stand With Crypto Executive Director Mason Lynaugh, Blockchain Association CEO Summer Mersinger, Crypto Council for Innovation CEO Ji Hun Kim, and Digital Chamber CEO Cody Carbone. 

The coalition argues that the Clarity Act would establish a federal framework for digital asset markets, clarify regulatory responsibilities between the SEC and CFTC, create registration pathways for market participants, and extend protections to software developers.

The letter positions the bill as one built on years of bipartisan education and stakeholder engagement. 

“Durable policy must be built across party lines, especially when it will shape the future of American financial markets,” the signatories wrote, pointing to the Senate Banking Committee’s recent passage of the bill as validation that consensus is within reach.

The Clarity Act — short for the Digital Asset Market Clarity Act — passed the House of Representatives in July 2025 by a bipartisan vote of 294-134. The bill stalled twice in the Senate, including a January 2026 episode when Coinbase withdrew support over a proposed ban on stablecoin rewards.

The Senate Banking Committee cleared the bill on May 14, 2026, by a 15-9 vote. Democrats Ruben Gallego of Arizona and Angela Alsobrooks of Maryland joined Republicans in supporting the measure. 

The bill aims to resolve a long-standing regulatory turf dispute between the SEC and CFTC by establishing clear definitions for when digital asset tokens qualify as securities, commodities, or other categories.

Remaining obstacles include contested DeFi provisions, ethics language that would bar senior government officials from profiting on crypto holdings during their tenure, and the question of whether community bank deregulatory provisions will be attached to the bill. 

Some Democrats, led by Sen. Elizabeth Warren, have argued the bill’s anti-money-laundering measures are not strong enough.

The clock is a factor. Analysts at Galaxy Digital put the bill’s chances of becoming law at 60% following the committee vote, but noted the window before August recess leaves only weeks for Senate consideration, reconciliation with the Agriculture Committee version, and a final House vote before it reaches President Trump’s desk.

The coalition’s letter frames the stakes plainly: “With the Clarity Act, the Senate has a chance to ensure the next generation of financial infrastructure is built, governed, and regulated in America.”

This post Crypto Coalition of Over 200 Companies Presses Senate Leaders to Bring Clarity Act to Floor first appeared on Bitcoin Magazine and is written by Micah Zimmerman.