The Crypto Council for Innovation, Blockchain Association, and The Digital Chamber recently sent a letter to Majority Leader John Thune (R-SD) and Minority Leader Chuck Schumer (D-NY), expressing strong support for Senate floor consideration of the Digital Asset Market Clarity (Clarity) Act.
The legislation would establish a federal framework for digital asset markets that includes consumer safeguards tailored to digital assets. It would replace a patchwork of state money transmitter and licensing requirements.
Digital asset adoption has accelerated across the United States. Nearly 67 million Americans, approximately one in four, own digital assets, and this figure is expected to grow.
The organizations urge Senate leadership to prioritize floor consideration and deliver the regulatory certainty that innovators, consumers and financial markets have requested for years.
There “is a crucial opportunity for the Senate to improve upon the status quo by establishing durable rules for digital assets that protect consumers, safeguard markets, and ensure that innovation can thrive in the United States,” the letter said.
The Crypto Council for Innovation is a global alliance for advancing crypto innovation. The
Blockchain Association is an organization representing the cryptocurrency industry. The Digital Chamber is a nonprofit organization committed to promoting global blockchain adoption.