Crypto Industry Urges Senate to Advance Clarity Act

Regulatory uncertainty continues to plague the crypto industry, with over 100 firms calling on the US Senate to advance the Clarity Act. The bipartisan legislation seeks to establish a clear federal framework for digital assets, addressing jurisdictional issues between regulatory bodies.

The signatories include major players such as Coinbase, Ripple, and Kraken, as well as venture firms and developer organizations. Collectively, they represent a broad cross-section of the digital asset ecosystem, from infrastructure providers to academic groups.

Industry leaders warn that continued inaction risks pushing innovation and capital outside the country, citing the European Union's comprehensive crypto framework as an example. The EU's Markets in Crypto-Assets regulation has provided legal certainty across member states, positioning the bloc as a competitive hub for digital asset innovation.