On June 7, a coalition of more than 200 crypto firms sent a letter to Senate Majority Leader John Thune and Minority Leader Chuck Schumer, urging them to schedule the Digital Asset Market Clarity Act for a full Senate vote. The coalition argues that passing the Clarity Act would establish a federal framework for digital assets, clarify the regulatory roles of the SEC and CFTC, create clearer registration pathways, and extend protections to software developers.

The House of Representatives passed the Clarity Act last July. Still, it’s been stuck in limbo in the Senate amid debates regarding anti-money-laundering measures, rules for decentralized finance (DeFi) platforms, rules for government officials holding cryptocurrencies, and…