Stand With Crypto, an advocacy group affiliated with Coinbase
$1.16B
, has joined forces with over 60 other blockchain-focused organizations to urge US lawmakers to pass the Digital Asset Market Clarity Act, also known as the CLARITY Act.
The group stated in a letter on July 7 that the US risks falling behind other countries if it continues without clear rules for digital assets.
They argued that regions like Europe and Asia are already offering friendlier conditions for crypto businesses, which has led some companies and skilled workers to move abroad.
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OpenSea, Dapper Labs, and other major blockchain companies signed the letter. They said that the lack of consistent rules discourages large financial institutions from entering the market. This slows development, increases compliance costs, and pushes US talent and investment overseas.
The letter also argued that blockchain technology plays an important role in areas such as payments, online ownership, and digital security. Without stronger support at home, the US could lose its position in shaping the future of global trade.
Furthermore, they acknowledged that crypto policy has become politically charged. However, they urged lawmakers to focus on long-term economic benefits rather than short-term political debates.
They said the bill provides a sensible framework that both sides of the aisle could support by replacing case-by-case enforcement with clear rules.
Recently, a group of US crypto advocacy organizations released a joint statement asking Congress to attach the Blockchain Regulatory Certainty Act (BRCA) to the CLARITY Act. Why? Read the full story.
Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.
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