Over 100 Crypto Firms Urge Senate to Advance CLARITY Act as Legislative Calendar Tightens

More than 100 cryptocurrency companies and organizations, including the Crypto Council for Innovation and Blockchain Association, have sent a letter to the US Senate Banking Committee urging passage of the CLARITY Act market structure bill. The legislation, which would establish distinct regulatory roles for the SEC and CFTC while protecting non-custodial developers and preventing state-by-state fragmentation, faces mounting delays over stablecoin yield provisions with limited Senate floor time remaining in 2026. Senator Bernie Moreno of Ohio has set an end-of-May deadline for action. The coalition warns that continued delay risks regulatory deadlock and could drive investment, jobs, and technological development offshore to jurisdictions that have already implemented comprehensive digital asset frameworks.

Industry Coalition's Urgent Push for CLARITY Act Passage

• ▪The crypto industry coalition's priorities for the CLARITY Act include establishing distinct roles for the SEC and CFTC
• ▪More than 100 crypto companies have urged the U.S. Senate to advance the CLARITY Act
• ▪Senator Bernie Moreno has set an end-of-May deadline related to the CLARITY Act
• ▪The Crypto Council for Innovation, the Blockchain Association, and a broad coalition of companies issued a letter to the U.S. Senate regarding the CLARITY Act

Convergence of Traditional Finance and Crypto Ecosystems

• ▪Standard Chartered is developing a Hong Kong dollar token

Perspective of Crypto industry coalition (Crypto Council for Innovation, Blockchain Association, and over 100 companies)

• ▪The crypto industry coalition views the limited Senate floor time remaining in 2026 as a threat to passing the CLARITY Act

Perspective of Senator Bernie Moreno

• ▪Senator Bernie Moreno views the end-of-May 2026 deadline as critical for advancing the CLARITY Act