Crypto Industry Calls for Clarity on Market Structure Legislation

The crypto industry is calling on the US government to establish a clearer framework for regulating digital assets. A joint letter signed by over 120 organizations, led by the Blockchain Association and Crypto Council for Innovation, has been sent to lawmakers, urging them to advance the CLARITY Act.

The bill aims to establish clear jurisdictional boundaries between the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC), which would provide much-needed clarity for industry players. The coalition argues that regulatory uncertainty is hindering growth in the sector, and that timely legislation would allow builders to focus on developing real-world use cases.

The letter also highlights the need to protect consumer-facing features like stablecoin rewards, and to ensure that developers of decentralized systems are not unintentionally targeted by regulation. The coalition believes that a consistent federal baseline is necessary to prevent companies from having to navigate 50 different state-level regimes.