US Crypto Industry Urges Senate Action on Market Structure Legislation

The US crypto industry is facing growing urgency to pass market structure legislation, with over 100 organizations signing a joint letter urging the Senate Banking Committee to advance the CLARITY Act. The coalition, which includes major players like Coinbase, Circle, and Ripple, argues that current momentum in Washington should translate into formal legislative action.

The letter highlights the importance of establishing a comprehensive federal framework for regulatory clarity and consumer protections. This would include clarifying regulatory jurisdiction, introducing disclosure standards tailored to digital assets, and establishing consistent rules across all 50 states.

The industry is positioning market structure as a foundational issue rather than a narrow compliance requirement. The coalition warns that delays could weaken the country's competitiveness in digital finance, with other major jurisdictions having already implemented comprehensive frameworks.