CLARITY Act Gets an Industry Ultimatum as 120 Firms Including Coinbase and Ripple Demand Senate Action

cryptonews04-28 03:10

More than 120 crypto organizations including Coinbase, Ripple, Kraken, and Andreessen Horowitz sent a joint letter to the Senate Banking Committee on April 23 demanding an immediate CLARITY Act markup...

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As crypto.news documented, every week of Banking Committee inaction shrinks the operational window to a point where 2026 passage becomes structurally implausible. Congress breaks for Memorial Day recess on May 21, leaving fewer than four working weeks in May after the Warsh confirmation hearing ends. The bill must still pass a Banking Committee markup, clear a 60-vote Senate floor threshold, be reconciled between the Banking and Agriculture Committee ver","collect":0,"end_time":0,"defaultTopTitle":"crypto.news","property":[],"viewcount":null,"language":"en","relate_stocks":{"COIG":"2倍做多COIN ETF- Leverage Shares","CONX":"Direxion Daily COIN Bull 2X ETF","COII":"REX COIN Growth& Income ETF","LU1861558580.USD":"日兴方舟颠覆性创新基金B","CONY":"COIN期权收益策略ETF-YieldMax","BK4516":"特朗普概念","COIO":"2倍上限加速COIN ETF-Leverage Shares","LU1861217088.USD":"贝莱德金融科技A2","BK4588":"碎股","BK4535":"淡马锡持仓","COIW":"COIN周配息ETF-Roundhill","LU1861220207.SGD":"Blackrock FinTech A2 SGD-H","ICOI":"Bitwise COIN Option Income Strategy ETF","BK4596":"哈里斯概念","FIAT":"做空COIN期权收益策略ETF-YieldMax","BK4600":"加密货币概念","BK4112":"金融交易所和数据","COIN":"Coinbase Global, Inc.","BK4595":"比特币概念","BK4551":"寇图资本持仓","LU1861559042.SGD":"日兴方舟颠覆性创新基金B SGD","BK4539":"次新股","LU2360107671.USD":"BGF FINTECH \"A4\" (USD) INC","BK4554":"元宇宙及AR概念","BK4585":"ETF&股票定投概念","CONI":"2倍做空COIN ETF-GraniteShares","COYY":"GRANITESHARES YIELDBOOST COIN ETF","COIA":"ProShares Ultra Coin ETF","CONL":"2倍做多COIN ETF-GraniteShares"},"translate_title":"Coinbase和Ripple等120家公司要求参议院采取行动，CLARITY Act收到行业最后通牒","themeId":null,"isJumpTheme":false,"ttsUrl":"https://static.tigerbbs.com/418274ea0a2e78001a615ded4bd4a1bc","symbols_score_info":{"COIG":0.6,"COII":0.6,"ICOI":0.6,"COIA":0.6,"FIAT":0.6,"COIO":0.6,"COIW":0.6,"CONX":0.6,"CONL":0.6,"CONI":0.6,"CONY":0.6,"COYY":0.6,"COIN":1.93},"content_text":"More than 120 crypto organizations including Coinbase, Ripple, Kraken, and Andreessen Horowitz sent a joint letter to the Senate Banking Committee on April 23 demanding an immediate CLARITY Act markup, as the bill’s end-of-May deadline tightens and prediction market odds fall below 50%.\n\n\nSummary\n\n\n\nA coalition of 120-plus organizations led by the Crypto Council for Innovation and the Blockchain Association sent the most coordinated industry letter yet demanding a CLARITY Act markup.\nSenate Banking Committee Chairman Tim Scott has still not scheduled a markup, with the Warsh confirmation hearings having consumed most of the committee’s April calendar.\nSenator Bernie Moreno warns that if the bill does not clear by end of May, it could be shelved until 2030, while Polymarket now prices passage odds at approximately 46%.\n\n\n\nThe CLARITY Act faced the most coordinated industry pressure yet on April 23 when more than 120 organizations posted a joint letter via the Blockchain Association demanding the Senate Banking Committee schedule an immediate markup. As 247 Wall St. noted, Chairman Tim Scott has still not put the markup on the Banking Committee’s calendar, with the Kevin Warsh Fed chair confirmation process having consumed most of the committee’s April operational time.\nCLARITY Act Industry Ultimatum Comes With a Hard Deadline Attached\nAs crypto.news reported, the letter was submitted by the Crypto Council for Innovation and the Blockchain Association and signed by Coinbase, Ripple, Kraken, Circle, Uniswap Labs, Andreessen Horowitz, Chainlink Labs, OKX, Paradigm, and Galaxy Digital, along with advocacy groups, state blockchain associations, and university chapters of Stand With Crypto. The letter addresses the six remaining issues the coalition wants resolved: a clear SEC and CFTC oversight boundary, protection for non-custodial software developers, stablecoin activity rewards permitted while passive yield is banned, simplified digital asset disclosure rules, prevention of a state-by-state regulatory patchwork, and a predictable federal baseline that keeps capital and innovation onshore. Senator Bernie Moreno has publicly warned that if the bill does not clear the Senate floor by the end of May, digital asset legislation may not advance before the midterm election cycle closes the window, possibly until 2030.\nWhat the CLARITY Act Delay Has Already Cost\nAs crypto.news documented, every week of Banking Committee inaction shrinks the operational window to a point where 2026 passage becomes structurally implausible. Congress breaks for Memorial Day recess on May 21, leaving fewer than four working weeks in May after the Warsh confirmation hearing ends. The bill must still pass a Banking Committee markup, clear a 60-vote Senate floor threshold, be reconciled between the Banking and Agriculture Committee versions, reconciled with the House text from July 2025, and signed by the president. JPMorgan analysts described passage by midyear as a positive catalyst for digital assets. Standard Chartered set an $8 XRP target contingent on the bill passing, with 247 Wall St. noting that most analysts forecast XRP could hit between $5 and $10 by late 2026 if the CLARITY Act clears. Polymarket currently prices passage odds at approximately 46%, down sharply from 82% earlier in the year.\nNovogratz Says It Gets Done in May\nGalaxy Digital founder Mike Novogratz said in a podcast this week that he believes the CLARITY Act will reach committee in early May and could land on Trump’s desk by June. “So this is going to get done,” Novogratz said. “It probably gets done in May.” That reading is more optimistic than Polymarket’s current pricing and more optimistic than Galaxy Research’s own 50-50 odds assessment, but it reflects the underlying conviction held by most industry participants that the bill’s substance is settled and that the only remaining variable is whether the Senate Banking Committee can find time on its calendar. Tillis’s decision to drop his block on Warsh’s confirmation on April 27 removes the single biggest competing item from the Banking Committee’s schedule, potentially opening a direct path for a CLARITY Act markup in the first week of May.\nThe Senate Banking Committee has not announced a markup date as of publication, but Tillis’s block removal and the Warsh confirmation vote scheduled for Wednesday have cleared the committee’s most pressing competing obligation.\n\n\n\n\n\n                Read more:\n            \n\n                Consensys and Joseph Lubin Deploy 30K ETH for rsETH Recovery","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"policyRegulatory","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.42.1","shortVersion":"4.42.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2630141593","isCrawlerRequest":true}