Crypto Industry Coalition Pushes Congress to Pass CLARITY Act During "Crypto Week"

A coalition of 65 cryptocurrency advocacy groups and firms led by Coinbase's Stand With Crypto has intensified pressure on House lawmakers to pass the Digital Asset Market Clarity Act during next week's legislative session. The group sent a letter Monday urging Congress to advance the CLARITY Act, which would establish clear regulatory boundaries between the Commodity Futures Trading Commission and Securities and Exchange Commission in overseeing digital assets. The legislation would grant primary jurisdiction over most cryptocurrencies to the CFTC while maintaining SEC oversight of crypto-related securities.

SWC has delivered a letter to the House in support of the CLARITY Act signed by over 65 Crypto Founders representing 6,100+ jobs across 21 states.

We urge House members to support CLARITY - a comprehensive market structure bill that will enable American innovators to thrive. pic.twitter.com/98pwmUskdH

— Stand With Crypto🛡️ (@standwithcrypto) July 7, 2025

The crypto industry coalition warned that American leadership in blockchain technology is already showing signs of decline due to regulatory uncertainty. Organizations including NFT platforms OpenSea and Dapper Labs argued that the lack of standardized rules is hindering institutional adoption and pushing talent and businesses toward more crypto-friendly international jurisdictions. The letter emphasized that regulatory clarity is essential for developers, users, and advocates to continue innovating within the United States.

Republican House leaders have designated the week beginning July 14 as "Crypto Week," during which they plan to consider the CLARITY Act alongside two other major cryptocurrency bills. House Speaker Mike Johnson announced the chamber will also review the Anti-CBDC Surveillance State Act, which would ban central bank digital currencies, and the GENIUS Act for stablecoin regulation. The GENIUS Act is expected to receive priority treatment as it has already passed the Senate and received endorsement from President Donald Trump for rapid passage.

However, Democratic opposition could complicate the CLARITY Act's path to enactment. Senate Democrats previously blocked quick passage of the GENIUS Act, citing concerns about Trump's expanding cryptocurrency business interests, which have reportedly added at least $620 million to his net worth. House Financial Services Committee Democrat Maxine Waters has criticized the CLARITY Act as "rushed" and "overly complicated," arguing it would exempt risky crypto activities while legitimizing what she termed "Trump's crypto con.”