Crypto Lobby Urges Congress Quickly Pass Crypto CLARITY Act
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Coinbase’s lobbying arm, along with a swathe of crypto firms, has urged US House lawmakers to quickly pass a major bill when they meet next week that would lay out how the crypto industry is regulated. In a letter sent on Monday, Stand With Crypto and 65 crypto advocacy groups and firms asked House lawmakers to back the Digital Asset Market Clarity Act — better known as the CLARITY Act. “We know that there have been efforts to politicize crypto legislation, but with crypto drastically reshaping the global economy the U.S. risks falling behind unless we adopt pro-crypto policies that fully embrace blockchain technology,” it said. The CLARITY Act specifies the roles of the Commodity Futures Trading Commission and the Securities and Exchange Commission in policing crypto. It gives most of the jurisdiction over crypto to the CFTC, but the SEC would regulate products such as crypto-related securities. US crypto leadership “slipping,” groups say The group’s letter, signed by the likes of non-fungible token heavyweights OpenSea and Dapper Labs, claimed there were “already signs of U.S. crypto leadership slipping.” The groups said that a “lack of standardized rules hinders institutional adoption and innovation, pushing talent and businesses to more crypto-friendly jurisdictions abroad.” Source: Stand With Crypto “We cannot afford to let inaction and uncertainty jeopardize our ability to secure America’s economic future,” it added. “Above all else, the U.S. crypto industry needs market structure — which ensures there are clear rules of the road and provides the regulatory clarity that developers, users, and advocates need to continue innovating.” House to consider CLARITY Act during “Crypto Week” Republican House leaders said on Thursday that they would consider the CLARITY Act and two other crypto bills in the week starting July 14, in what they dubbed “Crypto Week.” House Speaker Mike Johnson…
Filed under: News - @ July 8, 2025 8:28 am