Over 200 Crypto Companies Urge Senate to Advance Clarity Act to Full Vote
More than 200 digital asset companies, industry associations, and grassroots organizations have jointly written to U.S. Senate Majority Leader John Thune and Minority Leader Chuck Schumer, urging the swift advancement of the Clarity Act to a full Senate voting procedure.
This initiative was launched by Stand With Crypto in collaboration with the Blockchain Association, Crypto Council for Innovation, and The Digital Chamber, mobilizing nearly 3 million supporters. Signatories include Coinbase, Ripple, Kraken, a16z, Circle, and Binance US.
The Senate Banking Committee passed the bill last month with bipartisan support, and Senator Cynthia Lummis emphasized that they will not abandon the "5-yard line." The bill aims to clarify the federal regulatory framework, delineate the responsibilities of the SEC and CFTC, provide a registration pathway, and protect developers, encouraging digital asset activities to return to the U.S.
Source: Public Information
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Cynthia Lummis has long served as the chair of the Senate Digital Assets Subcommittee and has previously promoted crypto-friendly regulations in Wyoming. The Clarity Act continues her strategy of cross-committee coordination, similar to the lobbying path for crypto provisions in the 2021-2022 Infrastructure Bill, with the industry forming strong external pressure through large-scale joint signatures and grassroots mobilization.
On the capital front, institutions like Coinbase and a16z are continuously investing resources and networks into lobbying efforts, leveraging platforms like Stand With Crypto to mobilize 3 million supporters and state-level pressure. The strategic motive is to secure the U.S. as a global crypto hub, preventing the industry from flowing to competing jurisdictions like Singapore, while attracting more institutional and retail capital back to domestic projects.
This aligns with the EU's MiCA regulations leading to market normalization in Europe, and the previous fragmented regulation of crypto in the U.S. causing capital outflow, reflecting the current transition from regulatory uncertainty to a unified federal framework.
Essentially, this is a regulatory change: the Clarity Act accelerates the clarification of CFTC's dominance over commodity-like assets while the SEC retains jurisdiction over securities. Mechanically, it aims to reduce litigation risks through clear rules and attract large-scale institutional capital back, further strengthening the U.S.'s global pricing power and innovation leadership in digital assets, avoiding resource dispersion caused by high uncertainty.
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Regulatory ambiguity leads to capital flight; a clear framework is a national lever. Most await policy clarity, while a minority pushes for the 5-yard line, with structural opportunities arising from bipartisan windows. Selling compliance requires long-term presence; staying in the gray area loses global market share, as top capital bets on certainty in rules.