Coinbase, Ripple, and more than 200 organizations urged Senate Majority Leader John Thune (R-SD) and Senate Minority Leader Charles Schumer (D-NY) to bring the CLARITY Act to the Senate floor in a June 7 letter. The coalition argued the bill would improve transparency, accountability, and consumer protections in digital asset markets. The Senate Banking Committee had advanced H.R. 3633 in a bipartisan 15-9 vote, giving the legislation its latest momentum.
Senate Banking Committee Approves H.R. 3633 in Bipartisan Vote
The Senate Banking Committee approved H.R. 3633 in a 15-9 bipartisan vote. The committee vote gave the CLARITY Act its latest procedural advancement. The bill must still pass the full Senate, undergo possible House-Senate reconciliation, and receive President Donald Trump's signature before it can become law.
Coalition Spans Exchanges, Venture Firms, and Grassroots Networks
The June 7 letter signatories include Coinbase, Ripple, Kraken, Circle, Binance.US, Uniswap Labs, Paradigm, Andreessen Horowitz, and many Stand With Crypto chapters. Industry support spans exchanges, venture firms, trade groups, developer organizations, academic blockchain clubs, and state advocacy chapters. Crypto advocacy group Stand With Crypto wrote on X: "Stand With Crypto and over 200 organizations sent a simple message to Senate leadership: it's time for the Clarity Act." The group added: "The community is unified --- large companies, startups, associations, and grassroots groups across the country are counting on their lawmakers to deliver rules of the road for crypto in America."
CLARITY Act Would Create Federal Framework for Digital Asset Markets
The CLARITY Act would create a comprehensive federal framework for digital asset markets, according to the coalition. The letter states that the bill would clarify regulatory responsibilities, create workable registration pathways, maintain protections for software developers, and bring more digital asset activity into responsible U.S. markets. Coalition members framed the vote as a choice over where digital finance develops. Their letter argued that digital asset markets are global, growing, and central to financial infrastructure, while warning that activity could continue moving offshore without clearer U.S. rules, oversight, transparency, and accountability. Blockchain Association wrote on X: "We're proud to join Stand With Crypto and more than 200 organizations in asking for Clarity. Let's secure America's role as the crypto capital of the world and move Clarity to the Senate floor."
Congress Faces Reconciliation and Full Senate Passage Before Bill Becomes Law
Legislative hurdles remain even after the committee vote. The bill must still be reconciled with related Senate and House legislation and secure enough support to clear the full chamber. The next steps include full Senate passage, possible House-Senate reconciliation, and President Donald Trump's signature.
National Security Veterans Support Digital Asset Oversight in Separate Letter
A separate June 2 letter backed by 160 former national security, intelligence, and law enforcement professionals tied digital asset oversight to illicit finance controls, law enforcement reach, and activity moving away from opaque offshore venues. The coalition argues that clear oversight would strengthen market integrity, improve transparency, increase accountability, boost consumer confidence, and help keep innovation, jobs, investment, and market activity under American law.
FAQ
What did Coinbase and Ripple do on June 7?
Coinbase, Ripple, and more than 200 organizations sent a letter to Senate Majority Leader John Thune (R-SD) and Senate Minority Leader Charles Schumer (D-NY) urging a Senate floor vote on the CLARITY Act.
How did the Senate Banking Committee vote on H.R. 3633?
The Senate Banking Committee approved H.R. 3633 in a bipartisan 15-9 vote, advancing the CLARITY Act to the next legislative stage.
What steps must the CLARITY Act complete before becoming law?
The bill must pass the full Senate, undergo possible House-Senate reconciliation, and receive President Donald Trump's signature before it can become law.
