Coinbase-Led Coalition Urges CLARITY Act Passage in U.S. Congress
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Key Points: Stand With Crypto coalition advocates for the CLARITY Act to regulate crypto markets. Regulatory clarity aims to maintain U.S. competitiveness in crypto. The Act splits oversight between CFTC and SEC. A coalition led by Coinbase is advocating for the CLARITY Act’s passage in the U.S. Congress. The Stand With Crypto coalition, consisting of 65 industry entities, urges the U.S. House of Representatives to address crypto regulatory clarity. This action seeks to prevent the U.S. from lagging behind in blockchain adoption. The Act defines responsibility between the CFTC and SEC, impacting BTC and ETH markets. The CLARITY Act aims to designate CFTC as the primary regulator for crypto commodities while the SEC maintains oversight of securities-related products. Consequently, trading systems and broker-dealers face new registration processes. Debate Surfaces as U.S. Lawmakers Consider Crypto Oversight Shift The CLARITY Act sees strong backing from Coinbase and the Stand With Crypto coalition. They sent a unified message to Congress, advocating for regulatory clarity. The coalition’s letter suggests urgent adoption of blockchain-friendly policies, arguing the U.S. risks falling behind global peers by not acting decisively. The regulatory landscape would shift significantly, highlighting the balance between CFTC and SEC responsibilities. By primarily granting oversight to the CFTC, digital asset markets could see enhanced stability, potentially increasing institutional participation and compliance benefits. Reactions are mixed; substantial support exists among tech advocates, while state regulators raise concerns. Letitia James of New York warns of potential loopholes in the Act, advocating for stronger consumer safeguards. The debate underscores ongoing tensions between innovation and regulation. Historical Context, Price Data, and Expert Insights Did you know? Policies like the CLARITY Act have historically played pivotal roles in shaping market accessibility in the U.S. CoinMarketCap indicates Bitcoin (BTC) trades at $107,848.48, with a market cap of $2.15 trillion. BTC’s trading…
Filed under: News - @ July 8, 2025 4:29 am