Coinbase’s lobbying arm, along with a swathe by crypto companies, encouraged lawmakers in the US House to quickly pass a major bill when they met next week to release how to regulate the crypto industry.
In a Letter Sent on Monday, stood with crypto and 65 crypto advocacy groups and companies asked home lawmakers to return the Digital Asset Market Clarity Act – better known as The Clarity Act.
“We know that there are political efforts in crypto law, but in crypto that drastically reshaping the global economy the dangers of the US fall unless we adopt pro-crypto policies that fully embrace blockchain technology,” he said.
The Clarity Act has identified the duties of the Commodity Futures Trading Commission and the Securities and Exchange Commission in Policing Crypto. It gives most of the crypto jurisdiction over the CFTC, but the SEC will regulate Products such as crypto -related security.
The US Crypto leadership is “slipping,” the groups say
The group’s letter, signed by the preferences of unstable heavyweights opening and dapper labs, claimed that there were “there are signs of crypto leadership slipping.”
Groups say that a “lack of standard policy prevents adoption and institutional change, which drives talent and businesses to more crypto-friendly jurisdictions abroad.”
“We cannot afford to dislike and uncertainty that can endanger our ability to secure American future economics,” he added. “Mainly the US crypto industry requires market structure – which ensures that there are clear road policies and providing regulations that developers, users, and advocates need to continue to change.”
Home to consider the clarity of the action during the “crypto week”
Republican House leaders said on Thursday that they would consider The Clarity Act and two other crypto bills On Sunday beginning July 14, on what they called “Crypto Week.”
House speaker Mike Johnson said the Chamber will also review the central bank digital File-Banning Anti-CBDC Surveillance State Act and the Stablecoin-Regulate Genius Act.
The Genius Act is likely to be at the top of the agenda, as it has passed the Senate, and US president Donald Trump said last month that he wanted the bill passed as soon as possiblebefore Congress goes to a month’s break in August.
The Clarity Act could be the next to hit Trump’s desk, as today before the entire house after the House Financial Services Committee and the Agricultural Committee Advanced it on June 10.
It should still pass the Senate, and Senate Banking Committee Chair Tim Scott said last month that he was Want to pass A bill of crypto market structure “before the end of September.”
Democrats may interfere with clarity law
Had Senate Democrats failed Republicans’ efforts To quickly pass the Genius Act to the house, citing concerns over Trump’s growing crypto relationship, and House democrats have signed similar concerns in The Clarity Act.
Maxine Waters, a leading Democrat in the House Financial Services Committee, said at a hearing In early June, The Clarity Act was a “hurry, extremely complex bill that would exclude” some of the riskiest activities “in crypto.
“Crypto con of the Crypto con is far from the only disgust -awful thing about this confusing and reckless law,” he added, pointing to the growing net of Trump’s family from their Crypto adventures.
Trump has reported added At least $ 620 million on his net worth because of his and his family adventure, which now includes a crypto trading platform, a stablecoin, a crypto mining business, NFT and many tokens.
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