Crypto Advocacy Group Calls Action on Market Structure Bill ‘critical‘

  

# Crypto Industry Pushes US Senate to Advance CLARITY Act

More than 120 organizations connected to the cryptocurrency and blockchain sector have joined forces to urge US lawmakers to move forward with long-delayed digital asset legislation.

In a letter sent Thursday to leaders of the Senate Banking Committee, the Crypto Council for Innovation (CCI) and the Blockchain Association called on lawmakers to begin the markup process for the CLARITY Act. Industry leaders argue that the legislation would establish a comprehensive federal framework for regulating digital assets and provide much-needed legal certainty for businesses operating in the sector.

According to the letter, timely action is essential because other major economies have already introduced clear regulatory frameworks for digital assets. Industry representatives warned that continued delays could cause investment, innovation, and high-skilled jobs to move outside the United States.

“The United States needs a modern market structure framework that supports innovation and competitiveness,” the organizations stated. “Without clear rules, the country risks losing economic opportunities and technological leadership to international competitors.”

## CLARITY Act Faces Ongoing Delays

The CLARITY Act, considered one of the most important pieces of crypto-related legislation in recent years, successfully passed the House of Representatives in July 2025. However, progress in the Senate has slowed due to government shutdown concerns, regulatory debates, and disagreements surrounding stablecoin yield provisions.

Earlier this year, the Senate Banking Committee, led by Senator Tim Scott, postponed a scheduled markup session for the bill. The delay came shortly after Coinbase CEO Brian Armstrong expressed concerns that the legislation, in its existing form, did not adequately address several issues important to the digital asset industry.

Since then, representatives from the banking sector, cryptocurrency companies, and policymakers have continued negotiations aimed at resolving key disagreements, particularly those involving stablecoin regulations and yield-bearing products.

As of this week, committee leaders have not announced a new date for the bill’s markup. Meanwhile, Senator Thom Tillis recently suggested that lawmakers consider postponing discussions until May to allow additional time for industry stakeholders and banking groups to reach a compromise.

## Broad Industry Support for Crypto Regulation

The latest letter received support from approximately 120 companies and organizations across the digital asset ecosystem. Signatories included major cryptocurrency exchanges such as Coinbase and Kraken, as well as advocacy groups including the Texas Blockchain Council and the Solana Policy Institute.

The effort follows a separate request from The Digital Chamber, which recently urged lawmakers to schedule a markup session as quickly as possible.

Advocates argue that legislative momentum is becoming increasingly important as the current congressional term progresses. With more than 270 days having passed since the House approved the CLARITY Act, supporters believe the available window for passing meaningful crypto legislation is narrowing.

## Banking Industry Seeks Additional Review Period

While crypto organizations are pushing for faster action, some banking groups are advocating for a slower approach.

Earlier this week, the American Bankers Association requested an additional 60-day review period from federal agencies responsible for implementing regulations related to the GENIUS Act. The request came after the Office of the Comptroller of the Currency finalized its regulatory framework.

If approved, the extension could delay the full implementation of stablecoin-related regulations, giving banks and financial institutions more time to evaluate potential impacts and submit feedback.

## Future of US Crypto Regulation Remains Uncertain

The growing debate surrounding the CLARITY Act highlights the ongoing challenge of balancing innovation with regulatory oversight. While cryptocurrency companies continue to push for clear and comprehensive rules, policymakers and traditional financial institutions remain divided on several key issues.

For now, the future of digital asset regulation in the United States depends largely on whether lawmakers can reach consensus on stablecoins, market structure, and consumer protection measures before the current congressional session comes to an end.