Blockchain network Hedera has joined a coalition of more than 200 organizations urging U.S. Senate leadership to advance the CLARITY Act, a proposed digital asset market structure bill that supporters say would provide long-awaited regulatory certainty for the cryptocurrency industry.
In a statement published on June 8, Hedera said it had joined industry participants, advocacy groups, and blockchain organizations in calling for swift action on the legislation. “Today, Hedera joined a coalition of over 200 organizations urging Senate leadership to bring the Clarity Act to the floor without delay,” the statement read.
According to Hedera, the bill would help establish clear rules for digital asset markets, improve consumer protections, and strengthen America’s ability to compete globally in blockchain innovation.
Industry coalition calls for action
The legislative push is being spearheaded by crypto advocacy organization Stand With Crypto, which said support for the legislation extends across startups, established crypto firms, trade associations, and grassroots communities.
“Stand With Crypto and over 200 organizations sent a simple message to Senate leadership: it’s time for the CLARITY Act,” the organization stated. “The community is unified — large companies, startups, associations, and grassroots groups across the country are counting on their lawmakers to deliver rules of the road for crypto in America.”
The advocacy group also encouraged supporters to contact lawmakers and urge them to move the legislation toward a full Senate vote.
Bipartisan momentum continues to build
Supporters point to the bill’s recent approval by the Senate Banking Committee as evidence of growing bipartisan support for comprehensive crypto regulation.
The committee vote marked one of the most significant legislative milestones for the digital asset sector in recent years, although the proposal must still advance through additional legislative stages before becoming law.
Industry leaders have increasingly argued that the absence of clear federal rules has created uncertainty for businesses, investors, and developers operating in the United States.
Banking industry concerns emerge
As momentum behind the CLARITY Act grows, the legislation has also sparked debate within the traditional banking sector.
Recent reports indicate that major financial institutions, including JPMorgan Chase and Citigroup, have been exploring tokenized deposit initiatives as lawmakers consider stablecoin-related provisions contained within broader digital asset legislation.
According to reports, some banking groups remain concerned that stablecoin issuers could gain competitive advantages if regulatory frameworks allow interest-bearing stablecoin products that may attract funds away from traditional bank deposits.
Lawmakers defend the legislation
Addressing concerns from the banking industry, House Financial Services Committee Chairman Rep. French Hill recently defended the CLARITY Act and efforts to modernize digital asset regulation.
Hill argued that tokenized deposits and stablecoins should not be viewed as mutually exclusive technologies and suggested that both could coexist within the evolving financial system.
According to Hill, lawmakers are actively working to address industry concerns while preserving opportunities for innovation in both traditional finance and digital asset markets.
For many industry participants, the coalition’s message is straightforward: regulatory uncertainty remains one of the biggest barriers to growth and investment in the digital asset sector. With more than 200 organizations now publicly backing the initiative, supporters of the CLARITY Act are intensifying pressure on lawmakers as the legislation moves through Congress.
Whether Senate leadership schedules the bill for a full floor vote in the coming weeks will likely determine the regulatory trajectory of the U.S. digital asset market for the next decade.
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