100+ Crypto Firms Urge Senate to Advance Clarity Act, Warn of Innovation Moving Offshore
Bitcoin Magazine
Over 100 crypto companies are pressuring the U.S. Senate to pass the Clarity Act to prevent innovation from leaving the country.Summary
A coalition of over 100 cryptocurrency firms, including Coinbase, Ripple, and Kraken, has sent a joint letter to the U.S. Senate Banking Committee urging the advancement of the Clarity Act. The industry argues that the current lack of regulatory framework, characterized by "regulation by enforcement," is driving capital and technological innovation to more crypto-friendly jurisdictions like the European Union. The proposed legislation aims to establish clear jurisdictional boundaries between the SEC and the CFTC, provide protections for developers, and create a unified federal standard for digital assets.
(Source：Bitcoin Magazine)