Over 100 Crypto Firms Push Senate on CLARITY Act Markup

Table of Contents Coinbase, Ripple, Kraken, and over 100 crypto firms asked the Senate Banking Committee to move forward with the CLARITY Act markup. The companies sent a joint letter urging lawmakers to establish a federal market structure framework. They warned that delays could push investment, jobs, and innovation outside the United States. The Crypto Council for Innovation and the Blockchain Association led the letter to Senate leaders. The groups stated that Congress must create a comprehensive federal framework for digital assets. They wrote that regulators alone cannot provide durable legal clarity. The letter stressed that lawmakers should act without further delay. It argued that a predictable baseline would preserve US leadership in digital asset innovation. The signatories included Coinbase, Ripple, Kraken, and more than 100 industry organizations. 1/ Today, @BlockchainAssn and @crypto_council, joined by a broad coalition of more than 120 organizations from across the digital asset ecosystem, urged the Senate Banking Committee to move forward with a markup on market structure legislation. Years of bipartisan work have… pic.twitter.com/JM9kWsubqC — Blockchain Association (@BlockchainAssn) April 23, 2026 The coalition urged the Senate Banking Committee to schedule a markup soon. They pointed to months of stalled negotiations on the legislation. They said, “Congress must move quickly to establish a predictable federal baseline.” The industry groups also outlined core priorities in the bill. They called for keeping activity-based consumer rewards tied to payment stablecoins. They also sought clear disclosure rules and token certification standards. They emphasized a clear division of authority between the SEC and the CFTC. They also requested protections for developers and service providers working on decentralized technologies. The letter addressed concerns about illicit finance safeguards. Senate Banking Republicans released fact sheets on the CLARITY Act in January. They described the bill as a framework clarifying oversight between the SEC and the CFTC. The committee expected to hold a markup soon after that release. However, Coinbase CEO Brian Armstrong publicly opposed parts of the draft. He argued that some provisions would weaken the CFTC’s role. He also said the draft would “effectively kill stablecoin rewards.” Lawmakers and industry participants disagreed over stablecoin reward provisions. Those disputes forced the committee to postpone its planned January debate. The legislation then remained under negotiation through March. The bill passed the House in July 2025 by a 294-134 vote. Galaxy reported that the Senate has held intensive negotiations since January. The firm said lawmakers had expected a markup in late April. That timetable began slipping after Senator Thom Tillis suggested waiting until May. As a result, the Senate Banking Committee did not confirm a markup date. The industry letter now urges the committee to move forward without further postponement.