Stand With Crypto Applauds House Introduction of Market Structure Bill

WASHINGTON, D.C. – Stand With Crypto, America’s leading crypto advocacy organization,  today applauded House Committee on Financial Services Chairman French Hill (R-AR); House Committee on Agriculture Chairman G.T. Thompson (R-PA); House Majority Whip Tom Emmer (R-MN); House Committee on Financial Services Subcommittee on Digital Assets, Financial Technology, and Artificial Intelligence Chairman Bryan Steil (R-WI); House Committee on Agriculture Subcommittee on Commodity Markets, Digital Assets, and Rural Development Chairman Dusty Johnson (R-SD); Rep. Warren Davidson (R-OH); House Agriculture Committee Ranking Member Angie Craig (D-MN); Rep. Ritchie Torres (D-NY); and Rep. Don Davis (D-NC) for introducing critical bipartisan legislation that will empower America’s crypto ecosystem to flourish and thrive long into the future. The legislation, the Digital Asset Market Clarity (CLARITY) Act, aims to establish regulatory clarity for digital assets — not only giving developers the clarity they need to build, but also protecting consumers and fostering greater participation in the blockchain economy, which could create up to 4 million U.S. jobs over the next 7 years.

Following the bill’s introduction, Meghan Pennington, spokesperson for Stand with Crypto, released the below statement:

“Stand With Crypto applauds the introduction of the CLARITY Act, which will open doors for a more inclusive, transparent, and secure digital economy and create millions of jobs. The 52 million crypto owners across the U.S. need clear rules of the road to protect consumers through choice, foster greater participation in the blockchain economy, and strengthen our national security. These bipartisan co-sponsors have been some of the fiercest crypto leaders in Congress, and their bill takes an important step towards establishing a common-sense regulatory framework for digital assets in the U.S. We urge congressional leaders to prioritize swift action on this legislation to solidify America’s global leadership in the blockchain economy.”

If enacted, this legislation will ensure there are clear “rules of the road,” providing the regulatory clarity that developers, users, and advocates need to continue innovating. The current lack of a regulatory framework is already limiting innovation and hindering the U.S. crypto industry’s potential: The U.S. share of global blockchain developers has decreased by approximately 14% since 2018, dropping to 26% in 2023. This legislation will take a colossal step forward in solidifying America’s leadership in blockchain technology and the global digital economy. 

Stand With Crypto is harnessing its vast network of millions of grassroots advocates to urge lawmakers to support the legislation. Over the past two years, Stand With Crypto has built a grassroots movement to mobilize and harness the voice of America’s 52 million crypto owners into a powerful and unified voting bloc, championing clear, common-sense regulations for the crypto industry and unlocking crypto’s innovation potential while fostering greater economic opportunity and freedom.