Crypto Coalition of Over 200 Companies Urges Senate to Advance Digital Asset Market Clarity Act

A coalition of over 200 crypto companies, including Coinbase and Ripple, is urging the Senate to vote on the Digital Asset Market Clarity Act. The bill, which passed the House in 2025 and a Senate committee in May 2026, aims to clarify SEC and CFTC jurisdiction over digital assets. Facing a tight deadline before the August recess, the legislation's passage is estimated at 60% amid debates over DeFi and anti-money-laundering provisions.

Coalition letter urging Senate vote

• ▪A coalition of over 200 companies and organizations, led by Stand With Crypto, sent a letter to Senate leaders on June 7, 2026
• ▪Signatories to the letter include Coinbase, Circle, Ripple, Kraken, Andreessen Horowitz, and Binance.US
• ▪The letter urged Senate Majority Leader John Thune and Minority Leader Chuck Schumer to schedule the Digital Asset Market Clarity Act for a full Senate vote

Clarity Act legislative status

• ▪The Digital Asset Market Clarity Act passed the House of Representatives in July 2025 with a bipartisan vote of 294-134
• ▪The bill previously stalled twice in the Senate, including an instance in January 2026 when Coinbase withdrew its support over a proposed ban on stablecoin rewards
• ▪The Senate Banking Committee cleared the bill on May 14, 2026, with a 15-9 vote

Regulatory framework provisions

• ▪The Clarity Act aims to establish a federal framework for digital asset markets and clarify regulatory responsibilities between the SEC and CFTC
• ▪The act seeks to establish clear definitions for when digital assets qualify as securities, commodities, or other categories
• ▪The legislation would create registration pathways for market participants and extend protections to software developers

Contested amendments

• ▪Senator Elizabeth Warren and some other Democrats have argued the bill's anti-money-laundering measures are not strong enough
• ▪Remaining obstacles for the bill include contested provisions on DeFi and ethics language barring officials from profiting on crypto holdings
• ▪The potential attachment of community bank deregulatory provisions to the bill remains an unresolved issue

August recess deadline pressure

• ▪The legislative window before the August recess leaves only weeks for Senate consideration, reconciliation with an Agriculture Committee version, and a final House vote
• ▪Analysts at Galaxy Digital put the bill’s chances of becoming law at 60% following the Senate committee vote