Coinbase’s non -profit advocacy arm will be held with Crypto, linked to 65 other crypto organizations to send a letter to the Congress exhorting them to quickly adopt the law on the clarity of the digital asset market (Clarity Act).
The legislation aims to settle for a long time regulatory uncertainty By assigning main surveillance of digital assets to the COMMITITY FUTURES TRADING Commission (CFTC). At the same time, the Securities and Exchange Commission (SEC) would oversee digital assets classified as titles. This double -frame approach eliminates the years of ambiguity and jurisdictional conflict which takes up the cryptographic industry.
The letter urged politicians not to do politics but to focus on long -term gains that the adoption of blockchain technology holds. “We know that there have been efforts to politicize the legislation on cryptography, but with cryptography considerably reshaping the world economy, American risks are late unless we adopt pro-Crypto policies that fully adopt blockchain technology,” he said.
The gatherings of the cryptocurrency behind Clarity act as American risks to lose Global Edge
The coalition of companies behind the letter, which includes some of the biggest names in the non -bubilizable token activity (NFT), such as Opensea and Dapper Labs, maintains that its leadership in digital assets decreases at high speed. The absence of a coherent, Crypto national framework A kind of startups, developers and investors of the United States in countries with clearer and more adopted rules.
Groups have warned that not acting and continuous uncertainty could endanger the economic future of America. They stressed in the letter that industry requires a reliable market structure to attract talent and stimulate innovation. They argued that without such a framework, the United States has risked losing the advantages of blockchain and digital finances technology.
The industry itself is extremely cyclical, with the super large oil and gas companies bouncing on the markets over the years, and the Clarity Act certainly ensures stability, they support. This would also clarify how the different digital assets are treated under American law, allowing businesses to build and grow here with confidence. It would also allow regulators to regulate the industry without hindering innovation.
The Republican leaders of the Chamber said that on July 14 would be the “cryptography week”, a special week for concentrated legislative work. During his session, the members of the Congress will seek to organize discussions and to examine the law on clarity, as well as two other bills of the Marquee law in the form of the law on engineering and the law on the state of anti-CBDC surveillance.
The law on engineering, which establishes stablecoin rules, has already erased the Senate. President Donald Trump publicly supported the bill and urged the legislators to adopt it before the recess of August. The anti-CBDC bill, on the other hand, would prevent the formation of a digital currency from the American Central Bank.
The Genius Act is perhaps the first to reach a vote, but the Clarity Act is not far behind. It was approved by the Chamber of Financial Services Committee and the Agriculture Committee on June 10 and awaits a full vote from the Chamber. If he is approved, he will go to the Senate, where the president of the banking committee, Tim Scott, would have said that he would like to adopt a bill on the cryptography market in September.
Slam clarity democrats act as a “ crypto ‘linked to Trump’s commercial interest
The Clarity Act is gaining ground despite strong opposition from the Democrats. Representative Maxine Waters, the best democrat of the Chamber’s Financial Services Committee, criticized the bill as a stay and irresponsible, warning that it would weaken high -risk digital asset activities and open the door to potential abuses.
Waters has also raised concerns concerning the growing entanglement between the financial interests of Donald Trump and Federal crypto policy. She nicknamed the “Trump’s Crypto Con” bill, highlighting the president’s expansion footprint in digital asset space, including commercial platforms, a stablecoin, a mining company, NFTS and other token companies, estimated at least $ 620 million.
This has aroused concerns among democrats that recent bills around the crypto could have more to do with the garnish of their own pockets than with the public interest.
Democrats fear that the recent legislation on cryptography is more concerned with personal gain than on a solid policy, arousing deeper concerns concerning conflicts of interest and real motivations behind the push.
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