Coinbase Ripple And 100 Crypto Firms Press Senate To Advance CLARITY Act

TLDR.

• Coinbase, Ripple and 100+ crypto groups urged Senate action on the CLARITY Act.
• The Senate Banking Committee has delayed the CLARITY Act markup since January.
• Industry groups want clear SEC and CFTC roles in digital asset oversight.
• Stablecoin rewards remain a key issue in Senate talks on market structure rules.
• The House passed the CLARITY Act in July 2025 by a 294 to 134 vote.

Coinbase, Ripple, Kraken, and more than 100 crypto firms and trade groups are pressing the Senate to act. They want the Senate Banking Committee to move forward with a markup of the CLARITY Act. Their request came in a joint letter published on Tuesday. The push adds pressure on lawmakers after months of delay.

The letter was led by the Crypto Council for Innovation and the Blockchain Association. It said the US needs clear federal rules for digital assets. It also warned that long delays could send jobs, capital, and product work overseas. The effort now centers on the stalled Senate process.

Industry groups renew pressure on Senate

The new letter brings together some of the biggest names in the crypto sector. Coinbase, Ripple, and Kraken joined more than 100 firms and associations. They asked the Senate Banking Committee to begin the next formal step on the bill. That step is the markup process.

The groups said Congress should create a federal market structure framework soon. They argued that regulators alone cannot provide enough legal clarity. They also said the US risks losing ground in digital asset development. Their message focused on speed and legal certainty.

The letter also listed core policy requests. The groups want consumer rewards tied to payment stablecoins to remain allowed. They want a clear split between SEC and CFTC duties. They also want protections for developers and firms linked to decentralized tools.

In the letter, the industry said Congress must create a “predictable federal baseline” for digital assets. It also said the country should “preserve US leadership in digital asset innovation.” Those lines summed up the industry’s central argument. The groups want the Senate to act now.

CLARITY Act has faced delays since January

Senate Banking Republicans released CLARITY Act fact sheets in January. At that time, a committee markup was widely expected. The proposal aimed to set clearer lines between SEC and CFTC oversight. It also included disclosure rules and measures tied to illicit finance.

However, the committee pulled back from the planned January debate. Coinbase CEO Brian Armstrong publicly opposed parts of the draft. He argued that some sections would weaken the CFTC’s role. He also said the bill could block stablecoin rewards.

That dispute added to existing tensions in Washington. Lawmakers and industry participants were already divided on stablecoin reward rules. Because of that fight, the bill lost its original timetable. Since then, talks have continued without a formal markup.

The bill remained stuck in the committee in March as negotiations continued. The main sticking point was still stablecoin rewards. Banking groups and crypto firms have not agreed on that issue. As a result, the Senate process has moved slowly.

Senate timing remains uncertain as pressure grows

Pressure has grown again in recent days. Galaxy said the House passed the CLARITY Act in July 2025 by a 294 to 134 vote. It also said the bill has faced intensive Senate talks since January. That has kept the measure in limbo for months.

Galaxy also said many in Washington expected a markup in the last week of April. But that schedule started to slip again. Senator Thom Tillis said the committee should wait until May before setting a date. That comment raised fresh doubts about near-term action.

For now, the crypto industry is trying to keep the bill moving. The latest letter shows that firms want the Senate to stop delaying the process. Their focus remains clear market rules and a formal committee markup. The next move now rests with the Senate Banking Committee.

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