WASHINGTON, D.C. – Stand With Crypto, America's leading crypto advocacy organization, delivered a coalition letter today to every member of the U.S. House of Representatives, urging them to support the bipartisan Digital Asset Market Clarity (CLARITY) Act. 

The letter, signed by 65 crypto-focused organizations representing more than 6,100 jobs across 21 states, calls on Congress to embrace clear and common-sense crypto regulation by passing the CLARITY Act. The bill establishes a robust framework that clarifies regulatory oversight between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), ensuring market structure and stability while protecting consumers and fostering innovation.

"The CLARITY Act is a critical step toward establishing clear rules of the road for the crypto industry," said Mason Lynaugh, Stand With Crypto community director. "It would provide the regulatory clarity developers, users, and advocates need to keep innovating here in the U.S. while opening the door to a more inclusive, transparent, and secure digital economy. Stand With Crypto and our millions of grassroots advocates nationwide are encouraged by the House Financial Committee and Agriculture Committee’s recent markups of the bill, and we urge congressional leaders to continue their swift action on this legislation to solidify America’s global leadership in the blockchain economy.” 

Led by Stand with Crypto, the coalition urges members of Congress to resist politicizing crypto policy and instead seize this opportunity to position the U.S. as a leader in blockchain innovation and consumer protection. Signatories include OpenSea, Shift4, Mysten Labs, and Dapper Labs, among others. 

The letter details the urgent need for market structure across the blockchain industry, stating,  

"Crypto developers need clear guidance and safeguards to create blockchain systems where users control their digital assets; consumers need consistent standards for transparency, security, and accountability that shields them from fraud, loss, and abuse; and the current lack of standardized rules hinders institutional adoption and innovation, pushing talent and businesses to more crypto-friendly jurisdictions abroad."

If Congress fails to take swift action to pass necessary market structure legislation, America’s dominance in the global blockchain economy could be undermined. The U.S. has already begun to lose ground – our share of global blockchain developers has decreased by approximately 14% since 2018, dropping to 26% in 2023. Legislation like the CLARITY Act would empower and protect consumers through choice, cement America's global leadership in cryptocurrency innovation, and protect national security.