Leading representatives of the digital asset market in the US have called on the Senate to urgently consider and refine the CLARITY Act, aimed at creating a clear regulatory framework for the cryptocurrency market. The relevant letter was sent to the Senate Banking Committee, where discussions on the initiative have been prolonged amid new disagreements.
This is reported by Business • Media
Key Issues: Stablecoins and Regulatory Authority
The letter was prepared by the Crypto Council for Innovation and the Blockchain Association. It is addressed to the committee leadership, including Tim Scott, Elizabeth Warren, Cynthia Lummis, and Ruben Gallego. It emphasizes that delays in passing the law create additional risks for the US digital market, encouraging the relocation of investments, jobs, and technologies to other jurisdictions.
“The United States cannot risk reverting to a previous era of regulation through enforcement that perpetuated uncertainty for both developers and market participants,” the letter states.
The authors of the letter highlighted the need to establish a legislative framework for issues such as the regulation of stablecoins, the distribution of authority between the SEC and CFTC, and the protection of the interests of decentralized platform developers. In their view, partial progress in these areas will not substitute for comprehensive legislation.
Lack of Legislation Threatens US Leadership in the Market
The letter was signed by well-known companies such as Coinbase, Circle, Kraken, Uniswap Labs, Ripple, as well as investment and research organizations, including Andreessen Horowitz and Chainalysis. They stressed that further delays pose real risks for the US in the competition for leadership in digital finance.
Among the main obstacles to the passage of the CLARITY Act are discussions regarding the profitability of stablecoins, ethical issues, and deep political divisions. Despite previous expectations for the law to be passed as early as April 2026, the timeline for reviewing the initiative has shifted again. Senator Thom Tillis suggests that work on the project may be completed by the end of May.
Experts emphasize that the fate of the CLARITY Act will be a crucial test for the US in maintaining competitive advantages in the digital asset sector.