#cryptouniverseofficial 📢 Cry#pto Lobby Pushes Congress to Pass Key Crypto Bill#MuskAmericaParty
1. Coinbase has ramped up efforts to push U.S. lawmakers to pass the CLARITY Act.
2. The company’s crypto advocacy group “Stand With Crypto” is leading the campaign.
3. Over 65 crypto-related organizations are supporting this lobbying effort.
4. The goal is to provide legal clarity around crypto regulation in the U.S.
5. The bill is officially called the Digital Asset Market Structure (CLARITY) Act.
6. It aims to clearly define the roles of the SEC and CFTC in regulating crypto.
7. The CFTC would oversee digital assets, while the SEC would regulate crypto securities.
8. Coinbase says the current uncertainty is pushing innovation outside the U.S.
9. The push comes just before a key congressional session on crypto laws.
10. Coinbase CEO Brian Armstrong urged Congress to act before the August break.
11. The CLARITY Act will be debated alongside the GENIUS Act on stablecoins.
12. The GENIUS Act was recently passed by the Senate with bipartisan support.
13. Together, both bills could create a full legal framework for U.S. crypto markets.
14. Critics, like Rep. Maxine Waters, argue the CLARITY Act is rushed and unclear.
15. Crypto advocates warn delays could cause the U.S. to fall behind globally.
16. Companies like OpenSea and Dapper Labs are also backing the bill.
17. Coinbase believes the bills will protect users and encourage innovation.
18. Lawmakers will begin debating the crypto package starting July 14.
19. The industry sees this as a turning point for U.S. crypto regulation.
20. All eyes are now on Congress to act before the recess in early August.