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There is pressure building in Washington as crypto backers urge lawmakers to move quickly. With the U.S. House of Representatives set to meet again next week, the crypto industry is pushing for something it has been wanting for a long time — clear, fair rules on how digital assets are regulated. Good to know The CLARITY Act splits crypto regulation between the SEC and CFTC. Over 65 crypto organizations, including OpenSea and Dapper Labs, back the bill. The House will vote during the week of July 14, dubbed “Crypto Week” by Republicans. On Monday, a group of crypto supporters — including Stand With Crypto, OpenSea, Dapper Labs, and more than 60 other firms — sent a letter to U.S. House lawmakers. Their message was simple: pass the Digital Asset Market Structure Bill, also known as the CLARITY Act. The letter warned that the U.S. is already falling behind. It said the lack of clear rules makes it harder for businesses to grow and for developers to build here. As a result, many crypto projects are leaving the U.S. for places with clearer regulations. “We cannot afford to let inaction and uncertainty jeopardize our ability to secure America’s economic future,” the group wrote. They also said the country risks losing out on innovation if lawmakers do not act soon. What is in the CLARITY Act? The bill tries to end the confusion between two major regulators. Under the CLARITY Act, the Commodity Futures Trading Commission (CFTC) would handle most of the crypto oversight. The Securities and Exchange Commission (SEC) would take charge of digital assets that are considered securities. Crypto firms have long argued that the rules need to be more predictable and balanced. Giving the CFTC more control could help resolve some of the long-standing legal fights between crypto companies and the SEC. Crypto Week in Congress House Republicans have said they will review the CLARITY Act during the week of July 14, along with two other crypto-related bills. They are calling it “Crypto Week.” One of those bills is the GENIUS Act, which deals with stablecoin regulation. That one already passed the Senate, and former president Donald Trump recently said he wants it signed into law before the August break. The House will also review the Anti-CBDC Surveillance State Act, a bill designed to stop the Federal Reserve from creating a digital dollar. After the House votes, the CLARITY Act still needs to clear the Senate. Senate Banking Committee Chair Tim Scott has said he hopes a crypto market structure law can pass before September ends. What comes next? Lawmakers have a tight timeline to get things done before their August recess. With three crypto bills on the schedule, and growing pressure from the industry, Congress will face big decisions soon. If the CLARITY Act makes it through both chambers, it could give the crypto sector in the U.S. the structure it has long been asking for. But if it stalls again, the complaints about slow action and regulatory uncertainty will only get louder. Will Congress finally give crypto a clearer path forward — or kick the can down the road again?

Dapper Labs

Industry Urges Congress to Vote on Crypto Rules

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