200+ Crypto Firms Urge Senate Floor Vote on Clarity Act

On Monday a coalition of more than 200 digital asset companies, trade groups and grassroots organizations delivered a letter to Senate Majority Leader Chuck Schumer and Republican Whip John Thune urging a floor vote on the Digital Asset Market Clarity Act. Signatories included Coinbase, Ripple, Kraken, Andreessen Horowitz, Circle and Binance US. The letter was organized by Stand With Crypto together with the Blockchain Association, the Crypto Council for Innovation and The Digital Chamber, which reported mobilizing nearly 3 million advocates across all 50 states.

The letter said the bill would define which federal agencies regulate different types of digital assets, establish registration pathways for firms, preserve legal protections for software developers and channel more trading and services to regulated U.S. venues.

The Clarity Act passed the Senate Banking Committee on a bipartisan vote last month. Senator Cynthia Lummis, a sponsor of the bill, wrote on X that committee approval clears the way for a floor vote and added, “We did not come this far to quit at the 5-yard line.”

A separate letter from about 160 former national security and law enforcement officials argued the proposed framework would strengthen enforcement tools and oversight of digital asset markets. Treasury Secretary Scott Bessent publicly urged lawmakers to advance the measure, while White House crypto adviser Patrick Witt described it as “pro-regulatory” and “pro-law enforcement” during policy discussions.

Backers pointed to U.S. strengths such as deep capital markets and a strong rule-of-law tradition, saying the bill would help keep jobs, investment and market activity in the United States and support domestic digital asset innovation.

Some industry advocates acknowledge unresolved political and ethical concerns, including scrutiny of ties between political figures and crypto firms. The next step in the legislative process is a vote on the Senate floor.