{"id":13818,"date":"2025-07-08T06:26:26","date_gmt":"2025-07-08T04:26:26","guid":{"rendered":"https:\/\/wsj-crypto.com\/?p=13818"},"modified":"2025-07-08T06:26:26","modified_gmt":"2025-07-08T04:26:26","slug":"crypto-advocates-push-for-swift-congressional-approval-of-clarity-act","status":"publish","type":"post","link":"https:\/\/wsj-crypto.com\/index.php\/2025\/07\/08\/crypto-advocates-push-for-swift-congressional-approval-of-clarity-act\/","title":{"rendered":"Crypto Advocates Push for Swift Congressional Approval of CLARITY Act"},"content":{"rendered":"

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The lobbying branch of Coinbase, in conjunction with numerous cryptocurrency entities, has called on US House representatives to swiftly approve a significant piece of legislation in their upcoming meeting that would define the regulatory framework for the cryptocurrency sector.<\/p>\n

In a letter<\/a> dispatched on Monday, Stand With Crypto alongside 65 cryptocurrency advocacy organizations and businesses urged House representatives to support the Digital Asset Market Clarity Act \u2014 commonly referred to as the CLARITY Act.<\/p>\n

\u201cWe recognize that there have been attempts to politicize cryptocurrency legislation, but with cryptocurrency significantly transforming the global economy, the U.S. risks lagging unless we implement pro-cryptocurrency policies that thoroughly adopt blockchain technology,\u201d it stated.<\/p>\n

The CLARITY Act delineates the responsibilities of the Commodity Futures Trading Commission and the Securities and Exchange Commission in overseeing cryptocurrency. It allocates the majority of regulatory power over cryptocurrency to the CFTC, though the SEC would oversee<\/a> products like cryptocurrency-related securities.<\/p>\n

US crypto dominance \u201cdeclining,\u201d groups claim<\/h2>\n

The letter from the groups, which includes notable non-fungible token leaders OpenSea and Dapper Labs, remarked that there are \u201calready indications of U.S. crypto dominance waning.\u201d<\/p>\n

These organizations indicated that a \u201clack of uniform regulations impedes institutional uptake and innovation, driving talent and enterprises to more cryptocurrency-friendly jurisdictions overseas.\u201d<\/p>\n

Source: <\/em>Stand With Crypto<\/em><\/a><\/figcaption><\/figure>\n

\u201cWe cannot afford to let indecision and ambiguity threaten our capability to secure America\u2019s economic future,\u201d it further stated. \u201cMost importantly, the U.S. cryptocurrency sector requires market structure \u2014 ensuring there are explicit guidelines to provide the regulatory certainty needed for developers, users, and advocates to foster ongoing innovation.\u201d<\/p>\n

House to review CLARITY Act during \u201cCrypto Week\u201d<\/h2>\n

Republican leaders in the House indicated on Thursday that they would assess the CLARITY Act alongside two other cryptocurrency bills<\/a> during the week that begins July 14, which they have termed \u201cCrypto Week.\u201d<\/p>\n

House Speaker Mike Johnson stated that the chamber would also examine the Anti-CBDC Surveillance State Act, which prohibits central bank digital currency, and the stablecoin-regulating GENIUS Act.<\/p>\n

The GENIUS Act is likely to be prioritized, as it has already cleared the Senate, and US President Donald Trump expressed last month his desire for the bill to be passed swiftly<\/a>, before Congress adjourns for a month-long recess in August.<\/p>\n