Stand With Crypto and greater than 200 firms and organizations despatched a letter to Senate Majority Chief John Thune and Minority Chief Chuck Schumer on June 7, urging them to schedule the Digital Asset Market Readability Act for a full Senate vote.
The letter — signed by executives and representatives from a number of the most acknowledged names in digital finance — frames the second as a take a look at of American management within the world race to manipulate digital asset markets.
Signatories embody Coinbase, Circle, Ripple, Kraken, Andreessen Horowitz, Binance.US, Multicoin Capital, Riot Platforms, and Uniswap Labs, amongst dozens of state-level blockchain coalitions and college blockchain golf equipment spanning all 50 states.
“Digital asset markets are world, rising, and central to the way forward for monetary infrastructure,” the letter states. “The query earlier than Congress is whether or not that future shall be inbuilt the US — underneath U.S. legislation, U.S. oversight, and American values — or proceed shifting to offshore jurisdictions with much less transparency, weaker shopper protections, and restricted accountability.”
The letter was led by 4 organizations: Stand With Crypto Government Director Mason Lynaugh, Blockchain Affiliation CEO Summer season Mersinger, Crypto Council for Innovation CEO Ji Hun Kim, and Digital Chamber CEO Cody Carbone.
The coalition argues that the Readability Act would set up a federal framework for digital asset markets, make clear regulatory obligations between the SEC and CFTC, create registration pathways for market members, and prolong protections to software program builders.
The letter positions the invoice as one constructed on years of bipartisan schooling and stakeholder engagement.
“Sturdy coverage should be constructed throughout occasion traces, particularly when it is going to form the way forward for American monetary markets,” the signatories wrote, pointing to the Senate Banking Committee’s current passage of the invoice as validation that consensus is inside attain.
The place the Readability Act stands proper now
The Readability Act — brief for the Digital Asset Market Readability Act — handed the Home of Representatives in July 2025 by a bipartisan vote of 294-134. The invoice stalled twice within the Senate, together with a January 2026 episode when Coinbase withdrew assist over a proposed ban on stablecoin rewards.
The Senate Banking Committee cleared the invoice on Could 14, 2026, by a 15-9 vote. Democrats Ruben Gallego of Arizona and Angela Alsobrooks of Maryland joined Republicans in supporting the measure.
The invoice goals to resolve a long-standing regulatory turf dispute between the SEC and CFTC by establishing clear definitions for when digital asset tokens qualify as securities, commodities, or different classes.
Remaining obstacles embody contested DeFi provisions, ethics language that will bar senior authorities officers from profiting on crypto holdings throughout their tenure, and the query of whether or not group financial institution deregulatory provisions shall be connected to the invoice.
Some Democrats, led by Sen. Elizabeth Warren, have argued the invoice’s anti-money-laundering measures should not robust sufficient.
The clock is an element. Analysts at Galaxy Digital put the invoice’s probabilities of changing into legislation at 60% following the committee vote, however famous the window earlier than August recess leaves solely weeks for Senate consideration, reconciliation with the Agriculture Committee model, and a last Home vote earlier than it reaches President Trump’s desk.
The coalition’s letter frames the stakes plainly: “With the Readability Act, the Senate has an opportunity to make sure the subsequent technology of monetary infrastructure is constructed, ruled, and controlled in America.”