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A coalition of more than 200 digital asset companies, trade groups, and grassroots organizations delivered a letter to Senate leaders John Thune and Chuck Schumer on Monday calling for a floor vote on the Digital Asset Market Clarity Act. Signatories include Coinbase, Ripple, Kraken, Andreessen Horowitz, Circle, and Binance US, alongside organizing groups Stand With Crypto, the Blockchain Association, Crypto Council for Innovation, and The Digital Chamber — the latter mobilizing a network of nearly 3 million advocates across all 50 states.
The letter frames the bill as Congress's chance to "keep innovation, jobs, investment, and market activity here at home," establishing a comprehensive federal framework for digital asset markets, clarifying jurisdictional turf between the SEC and CFTC, creating workable registration pathways, and shielding non-custodial software developers. Senate Banking cleared the bill on a bipartisan vote last month, and Senator Cynthia Lummis posted on X that "the floor is next" — language the letter is now designed to convert into actual scheduling.
Why it matters
The breadth of the signatory list is the story. Coinbase and Ripple are the two largest US-headquartered exchange and payments issuers by market presence, Kraken runs the second-largest US spot venue by volume, a16z is the deepest crypto-native venture allocator, and Circle issues USDC — the dollar stablecoin that anchors most of the on-chain settlement market. When that roster plus 200 peers lands a single coordinated letter, it reframes the Clarity Act from a sector priority into something closer to a lobbying crescendo.
Endorsements from outside the industry tighten the case. Treasury Secretary Scott Bessent has publicly backed a summer push, White House crypto adviser Patrick Witt has called the bill "pro-regulatory" and "pro-law enforcement," and the Blockchain Association delivered a parallel letter last week signed by 160 former national security and law enforcement officials.
Frequently asked questions
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What is the Digital Asset Market Clarity Act?
The Clarity Act is a Senate bill that would establish a comprehensive federal framework for digital asset markets, clarify which agency oversees which tokens, create registration pathways for trading platforms, and protect non-custodial software developers from liability tied to third-party activity.
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Who signed the letter to Senate leaders?
More than 200 digital asset companies and trade groups signed, including Coinbase, Ripple, Kraken, Andreessen Horowitz, Circle, and Binance US. The letter was organized by Stand With Crypto, the Blockchain Association, Crypto Council for Innovation, and The Digital Chamber.
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Has the Clarity Act passed any Senate votes yet?
Yes — the Senate Banking Committee passed the bill on a bipartisan vote last month. The current push is for a full Senate floor vote, which Senator Cynthia Lummis has said is the next step.
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Why is the Trump administration backing the bill?
Treasury Secretary Scott Bessent has publicly called on lawmakers to advance the legislation this summer, and White House crypto adviser Patrick Witt has described the bill as "pro-regulatory" and "pro-law enforcement" — framing it as a domestic-innovation and enforcement-strengthening measure.
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What is the biggest obstacle to a floor vote?
Ethics concerns tied to the Trump family's connections to the crypto industry have created friction inside the Senate. Several lawmakers have flagged the optics of advancing digital asset legislation while those financial ties remain unresolved.
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