200 crypto firms demand Senate pass Clarity Act as Fed…

Over 200 of the top US crypto companies — including Coinbase, Kraken, Uniswap, Aptos, Galaxy, and Andreessen Horowitz — sent a joint emergency letter to Senate Majority Leader John Thune and Minority Leader Chuck Schumer on June 7th, demanding a full floor vote on the Digital Asset Market Clarity Act. Policy coalitions Stand with Crypto, the Blockchain Association, the Crypto Council for Innovation, and the Digital Chamber co-signed the push. The letter framed the stakes bluntly: digital asset markets are global and growing, and the question is whether that infrastructure gets built under US law and oversight or continues migrating offshore.

Why it matters

The legislative pressure arrives alongside six new crypto bills unveiled by the House Ways and Means Republican Committee, covering mining, staking, and tax treatment — a coordinated signal that crypto is no longer a fringe policy issue but a mainstream financial-infrastructure debate. White House officials are simultaneously meeting with law enforcement groups to address illicit-finance and developer-protection concerns ahead of a Senate vote, suggesting the administration is actively working to clear the remaining objections. Prediction market odds on the Clarity Act passing before midterms dipped on the day of the letter, but the volume of institutional and political activity behind the scenes tells a more complex story.

Market impact

Layered on top of the legislative push is the debut FOMC meeting of new Fed Chair Kevin Warsh next week — Wharton economist Jeremy Siegel called it potentially the most impactful Fed meeting in decades. Rate-cut expectations have cooled, with Trump's own language shifting from demanding cuts to simply asking the Fed not to raise.