BlockBeats News, June 8th — Over 200 digital asset companies, industry associations, and grassroots organizations, including Coinbase, Ripple, Kraken, Andreessen Horowitz (a16z), Circle, and Binance US, jointly sent a letter to US Senate Majority Leader John Thune and Minority Leader Chuck Schumer, urging the swift advancement of the "Clarity Act" to the full Senate vote.

This joint action was initiated by Stand With Crypto in conjunction with the Blockchain Association, Crypto Council for Innovation, and The Digital Chamber. Stand With Crypto stated that it has mobilized nearly 3 million supporters from all 50 states in the US to push for the passage of this bill.

The coalition believes that the "Clarity Act" will establish a comprehensive federal regulatory framework for the digital asset market, clarify the responsibilities of regulatory agencies, provide feasible registration pathways, protect software developers, and drive more digital asset activities back into the US market.

The joint letter stated that this legislation will help keep innovation, employment, investment, and market activities in the US, while also solidifying the country's leadership position in global digital asset innovation.

Previously, the US Senate Banking Committee passed the bill last month in a bipartisan manner. Senator Cynthia Lummis stated that the "Clarity Act" has successfully cleared the committee review and is now set to move to the Senate floor for a full vote, saying, "We will not give up when we are just 5 yards away from the finish line."

However, reports suggest that ethical concerns related to the Trump family's ties to the cryptocurrency industry could still be one of the major obstacles during the bill's advancement.