Crypto Industry Urges Senate to Pass CLARITY Act Amid Regulatory Uncertainty

A coalition of over 120 cryptocurrency organizations, including Ripple, has sent an emergency letter to the Senate Banking Committee, urging immediate action on the CLARITY Act.

The letter, led by the Crypto Council for Innovation and the Blockchain Association, warns that continued congressional inaction risks pushing crypto investment and jobs offshore. This would allow other jurisdictions to set the global standard for crypto market regulation instead of the US.

According to Senator Bernie Moreno, missing the May deadline could indefinitely shelve the bill. Galaxy Research puts the passage odds at roughly 50-50 for 2026.