Over 200 Crypto Groups Press Senate to Schedule CLARITY Act for Full Consideration

More than 200 crypto organizations and companies urged U.S. Senate leadership in a June 7 joint letter to schedule the CLARITY Act for full Senate consideration, intensifying a coordinated push as momentum for the digital asset market structure bill continues to build in Washington. The letter, signed by Stand With Crypto, the Blockchain Association, the Crypto Council for Innovation, and The Digital Chamber, was addressed to Senate leaders John Thune and Chuck Schumer. "The Senate should now build on that momentum and give members the opportunity to advance durable market structure legislation," the letter stated. The organizations framed the legislation as a competitiveness issue, arguing that the U.S. digital asset industry risks continuing to move toward offshore jurisdictions without clearer federal rules. "The question before Congress is whether that future will be built in the United States — under U.S. law, U.S. oversight, and American values — or continue moving to offshore jurisdictions," the letter said.

The industry push comes shortly after the Senate Banking Committee advanced the CLARITY Act with bipartisan support, positioning it as one of the most significant crypto market structure proposals currently moving through Congress. Senator Cynthia Lummis, one of Congress' most prominent crypto advocates, reinforced the momentum publicly with a recent post stating, "The CLARITY Act passed committee. The floor is next." The signatories described the bill as a measure that would create clearer federal rules for digital asset markets, establish workable registration pathways, clarify regulatory responsibilities, and strengthen consumer protections. They also described the legislation as essential for preserving American leadership in financial innovation and digital infrastructure.

Resistance from parts of the traditional banking industry has also become more visible as the bill advances. Last month, JPMorgan CEO Jamie Dimon said banks would "fight" parts of the legislation on stablecoin regulation, arguing that crypto firms offering payment and deposit-like services should face banking-style oversight requirements. Dimon specifically criticized proposals that could allow stablecoin issuers to compete with traditional deposit platforms without equivalent liquidity, AML, capital, and consumer protection obligations. The comments marked one of the clearest public signs yet that major U.S. financial institutions may actively oppose parts of the emerging crypto framework as it moves through Congress.

The CLARITY Act has become one of the most closely watched digital asset bills in Congress because it seeks to define how crypto assets, exchanges, developers, and stablecoin-related activities should be regulated.