More than 60 crypto firms, including Stand with Crypto and OpenSea, urged Congress to show support for the CLARITY Act. They sent a joint letter to the U.S. House of Representatives, saying that they represented 52 million American crypto holders and more than 6,100 jobs across 21 states.
The CLARITY Act, or the Digital Asset Market Clarity Act of 2025, is a bipartisan bill, introduced on May 29, 2025, by Republican French Hill and Democratic co-sponsors. The CLARITY Act aims to address the issues faced by the crypto community in the U.S. by clearly defining the roles of the SEC and CFTC and establishing a structured framework for digital asset markets. It was passed by both the Senate and the Agriculture House Committees in June itself.
In the letter, the crypto firms stated that they could see the crypto leadership in the nation slipping, and they could not let inaction and uncertainty jeopardize the economic future of the U.S. They emphasized that this act would give developers a proper set of guidance and safeguards and would also be favorable for consumers. It would give them transparency, security, and accountability that would shield them from fraud, loss, and abuse.Â
The CLARITY Act is set for consideration in the upcoming crypto week, which is slated to commence from July 14. Along with this act, the Congress will also be looking into the GENIUS Act, which is focused on stablecoins, and the Anti-CBDC Surveillance State Act, which deals with privacy and government surveillance.
If the Congress were to pass this Act, it would be a pivotal point in regulated growth of the crypto space in the U.S.
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