Coinbase and multiple cryptocurrency advocacy groups are intensifying efforts to secure U.S. House approval for the CLARITY Act, legislation designed to establish definitive regulatory guidelines for digital assets.
The coalition, including the Stand With Crypto Alliance and over 65 additional organizations, formally emphasized the urgency of passing the Digital Asset Market Clarity Act in a joint communication.
The proposed framework delineates regulatory jurisdiction: The Commodity Futures Trading Commission (CFTC) would oversee most cryptocurrency market operations, while the Securities and Exchange Commission (SEC) would retain authority over crypto products classified as securities.
Industry representatives contend this regulatory clarity will establish a more stable environment for cryptocurrency businesses and investors, resolving longstanding ambiguities affecting sector growth.
The legislation aims to streamline oversight responsibilities between agencies and provide market participants with predictable compliance standards.