Crypto behemoths Coinbase and Ripple are coming together with over 200 digital asset companies in a quest to put pressure on the senate to vote in favour for the CLARITY Act.
According to media reports on Monday, a coalition of more than 200 digital asset firms, trade groups and grassroot organisations have drafted and delivered a letter to Senate prime John Thune and Chuck Schumer in order to put forth the request to speed fast the vote on the Digital Asset Market CLARITY Act.
The main participants of the movement included renowned institutions like Stand With Crypto, Blockchain Association, Crypto Council for Innovation and The Digital Chamber. Additionally, the organisation has been able to garner over 3 million advocates across 50 states to advance the bill’s passage.
Big crypto names join hands
More than 200 crypto companies and industry groups, including Coinbase, Ripple, Kraken, Andreessen Horowitz, Circle, and Binance US, are calling on the U.S. Senate to support the Clarity Act, saying the industry needs clear and consistent rules to grow.
The bill would establish a federal framework for digital assets, define the responsibilities of regulators, and create clearer registration processes for crypto businesses. It also aims to protect software developers and encourage more blockchain innovation to stay in the U.S. rather than move overseas.
In a joint letter, the signatories argued that regulatory clarity would help keep investment, jobs, and technological development within the country while reinforcing America’s position as a leading hub for digital asset innovation and providing greater certainty for businesses and consumers alike.
“The Clarity Act gives Congress the opportunity to keep innovation, jobs, investment, and market activity here at home while strengthening America’s role as the global leader in digital asset innovation,” the letter read.
CALRITY ACT current scenario
The crypto industry’s campaign for the Clarity Act is gaining momentum as the bill moves closer to a full Senate vote, with supporters arguing that the U.S. urgently needs clear rules for digital assets.
The latest push comes after the Senate Banking Committee approved the legislation with bipartisan support last month, sending it one step closer to the Senate floor. Senator Cynthia Lummis, one of Capitol Hill’s strongest crypto advocates, welcomed the progress in a post on X, saying, “The floor is next,” and adding, “We did not come this far to quit at the 5-yard line.”
The letter signed by more than 200 crypto companies and organizations is part of a wider effort to rally support for the bill. Industry leaders have long argued that unclear regulations are driving innovation and investment overseas, while leaving businesses uncertain about which rules apply to them.
Support for the legislation extends beyond the crypto sector itself. Last week, the Blockchain Association organized a separate letter backed by 160 former national security and law enforcement officials. They argued that a clearer regulatory framework would make it easier to monitor digital asset markets, combat illicit finance, and give authorities stronger oversight tools.
The Clarity Act has also attracted backing from senior officials in the Trump administration. Treasury Secretary Scott Bessent called on Congress to pass the bill during the summer. According to White House crypto advisor Patrick Witt, the proposed act is considered “pro-regulatory and pro-law enforcement,” which means that clear regulation may be beneficial not only for the crypto industry but for law enforcement bodies as well.
However, there are obstacles on the way to the adoption of the act as well. For example, the Trump family has recently become actively involved in the crypto industry, which raises some ethical concerns among the representatives of Congress as there may be certain conflicts of interest or even some influence on the decision-making process.
Despite these obstacles, many experts believe that the Clarity Act may become the most promising project ever created by Congress to regulate the crypto industry. As the bill moves toward the vote in the Senate, the discussion is likely to expand and go far beyond crypto itself.
