Over 200 crypto institutions, including a certain exchange and Ripple, jointly urge the U.S. Senate to advance the CLARITY Act for a vote

Odaily reports that a joint letter initiated by Stand With Crypto in collaboration with the Blockchain Association, Crypto Council for Innovation, and The Digital Chamber has been submitted to U.S. Senate Majority Leader John Thune and Minority Leader Chuck Schumer, urging a prompt full Senate vote on the Digital Asset Market Clarity Act (CLARITY Act).

More than 200 crypto enterprises, industry associations, and community organizations—including a certain exchange, Ripple, another exchange, a16z, Circle, and an additional exchange—have signed the joint letter. The letter states that the CLARITY Act will establish a comprehensive federal regulatory framework for digital asset markets, clarify the division of responsibilities among regulatory agencies, provide feasible registration pathways, and protect the innovation of software developers, while encouraging more digital asset business to return to the U.S. market.

The signatories state that the act will help retain innovation, employment, investment, and market activity within the United States, further consolidating the country's leading position in the global digital asset innovation arena.

It is understood that the CLARITY Act won bipartisan support from the Senate Banking Committee and passed committee review last month. Senator Cynthia Lummis subsequently stated that the next step for the bill is to enter the stage of full Senate consideration.

In addition, 160 former national security and law enforcement officials have previously jointly supported the bill, and U.S. Treasury Secretary Scott Bessent and White House crypto advisor Patrick Witt have also publicly called for expediting the legislative process. However, concerns over interests between the Trump family and the crypto industry are still considered one of the main obstacles for the bill’s progress. (The Block)