Coinbase’s lobbying arm, as well as a gang of crypto companies, urged American legislators to the Chamber to quickly adopt a major bill when they meet next week which explain how the cryptographic industry is regulated.
In a letter Sent Monday, stand with Crypto and 65 crypto advocacy groups and companies have asked the Chamber’s legislators to support the law on the clarity of the digital asset market – better known as Clarity Act.
“We know that there have been efforts to politicize the legislation on cryptography, but with cryptography considerably reshaping the world economy, the American risks are late unless we adopt pro-Crypto policies that fully adopt blockchain technology,” he said.
The Clarity Act specifies the roles of the Commodity Futures Trading Commission and the Securities and Exchange Commission in matters of Crypto police. It gives most of the jurisdiction over the CFTC crypto, but the SEC would regulate products such as titles related to crypto.
Crypto leadership groups
The group’s letter, signed by people like Non -Butins Opensea and Dapper Labs heavy goods vehicles, said there were “signs already from the direction of cryptography.”
The groups said that “a lack of standardized rules hinders institutional adoption and innovation, pushing talent and businesses to more friendly jurisdictions abroad”.
“We cannot afford to let inaction and uncertainty compromise our ability to secure the economic future of America,” he added. “Above all, the American cryptography industry needs a market structure – which guarantees that there are clear road rules and gives regulatory clarity that developers, users and defenders need to continue to innovate.”
House to consider Clarity Act during the “crypto weekend”
The leaders of the Republican Chamber said Thursday that they would consider the Clarity Act and two other Crypto bills during the week from July 14, in what they nicknamed the “cryptography week”.
Chamber President Mike Johnson said the Chamber would also examine the Central Bank Digital Bank Bank Banning Anti-CBDC Surveillance Act and the Stablecoin regulatory engineering law.
The Genius Act is probably at the top of the agenda, because he has already adopted the Senate, and US President Donald Trump said last month that he wanted the bill to be adopted as soon as possible before the congress went to a break of a month in August.
The Clarity Act could be the next one to strike Trump’s office because it is now before the full chamber after the Chamber’s financial services committee and the Agriculture Committee advanced it on June 10.
He must always adopt the Senate, and the president of the Senate banking committee, Tim Scott, said last month that he wanted to adopt a bill on the cryptographic market structure “before the end of September”.
Democrats could disrupt clarity
The Democrats of the Senate have frustrated the efforts of the Republicans to quickly transmit the engineering law to the House, invoking concerns concerning the growing cryptocurrency of Trump, and the Democrats of the Chamber have already reported concerns similar to the law on clarity.
Maxine Waters, a high -level democrat of the Chamber’s Financial Services Committee, said in the early June hearing that the Clarity Act was a “too complicated bill” which exempt “some of the most risky activities” of the crypto.
“The legitimization of Trump’s crypto is far from being the only terrible thing about this confusing and reckless legislation,” she added, pointing to the growing net value of the Trump family of their Crypto companies.
Trump would have added at least $ 620 million to its net value because of its cryptographic companies and family, which now include a crypto trading platform, a stablecoin, a cryptographic mining, NFT and several tokens.
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