What They Are Saying: Industry Leaders Praise Chairman Scott, Senate Banking Committee on Advancing Bipartisan Clarity Act

Washington, D.C. - Led by Chairman Tim Scott (R-S.C.), the Senate Banking Committee successfully advanced H.R. 3633, the Digital Asset Market Clarity Act of 2025, out of the committee in a bipartisan fashion. This legislation will establish clear rules of the road for digital assets, bringing them out of the shadows and into a system that is safer, fairer, and more transparent. After nearly a year of good-faith bipartisan negotiations, Senate Banking Committee Republicans and Democrats came together to advance a comprehensive market structure bill that will establish America as the crypto capital of the world. The bill advanced out of committee by a vote of 15-9 and now moves to the Senate floor.

Across the banking and crypto sectors, industry leaders have banded together in public support of the advancement of the Clarity Act.

"The Banking Committee showed the American people that Washington can still work together. We had a serious debate, worked through real differences, and came together around a shared goal: protecting consumers, supporting innovation, and keeping the future of finance in America. This legislation brings digital assets into the sunlight with clear rules, stronger safeguards, and better tools to stop bad actors. For me, this is personal. My mother raised my brother and me with faith, grit, and determination, and she taught me that the American Dream should be within reach for every family, including single mothers working hard to build a better life for their children," said Chairman Scott.

STAKEHOLDER SUPPORT:

"The Digital Asset Market Clarity Act is a monumental step in making the U.S. the Crypto Capital of the World. I applaud Chairman Scott and the Senate Banking Committee for working hard to craft the necessary compromises to advance this legislation," said David Sacks, former Trump administration A.I. and crypto czar.

"On behalf of AARP, which advocates for 125 million Americans age 50 and older, we write to express our strong support for provisions in the market structure legislation," said Bill Sweeney, Senior Vice President of Government Affairs at AARP. "We deeply appreciate the Committee's leadership."

"CLARITY is closer than ever. The bill is strong. It will benefit the American people by making the US financial system faster, cheaper, and more accessible. It will also ensure that the US leads in the global race to build the next generation of our financial system," said Brian Armstrong, CEO of Coinbase.

"The Senate Banking Committee is putting in the work as it moves the Clarity Act forward… incredible leadership! Millions of Americans are already in the market. Ripple stands behind this bill because they deserve the same rules and protections as every other asset class. If the largest economy in the world is going to lead on crypto - and it must - this is the moment," said Brad Garlinghouse, CEO of Ripple.

"We commend Chairman Scott, Subcommittee Chairwoman Lummis, and members of the Committee for continuing to move this process forward. The need for action is urgent. The United States cannot afford to fall behind in shaping the future of financial infrastructure. The Digital Chamber stands ready to support a successful markup and continued progress toward clear rules, stronger market integrity, and long-term U.S. leadership in digital assets," said Cody Carbone, CEO of The Digital Chamber.

"This is a defining moment for American leadership. Digital asset markets are global, growing, and increasingly central to the future of financial markets. The question before Congress is not whether this technology will continue to develop, but whether it will be built in the United States under American rules and with American values," said Blockchain Association CEO Summer Mersinger and Crypto Council for Innovation (CCI) CEO Ji Hun Kim. "We respectfully urge members of the Committee to support this legislation at markup and continue working toward a final, bipartisan framework that ensures the next generation of financial innovation is built in America."

"This bill safeguards consumers, includes important developer protections, and gives crypto entrepreneurs the regulatory clarity they need to build here in the U.S. We're thankful for the hard work of the Senate Banking Committee," said Chris Dixon, Managing Partner at a16z.

"Stand With Crypto thanks Chairman Tim Scott and members of the Senate Banking Committee for their leadership and dedication to getting market structure legislation right. We are thrilled by the bipartisan momentum in Congress to enact this much-needed legislation, finally giving crypto users and developers clear rules of the road that will unlock innovation, protect consumers, and allow our community to secure America's leadership in the global blockchain economy," said Mason Lynaugh, Executive Director of Stand With Crypto.

"CTA supports the CLARITY Act and its effort to establish clear rules for digital assets. From digital currencies to the blockchain technologies that power them, digital assets are becoming a major part of the U.S. economy and will shape the future of financial innovation," said Pat Pelletier, Director of Government Affairs for the Consumer Technology Association (CTA). "Congress must move quickly to advance the CLARITY Act and establish a modern framework that unlocks the full potential of blockchain and digital asset technologies while reinforcing American leadership in the next generation of finance."

"Fidelity commends the Senate Banking Committee for advancing the CLARITY Act. The bill provides a balanced approach and, if passed, will offer statutory clarity to digital asset markets, benefiting American investors and helping ensure the U.S. remains a global leader in digital assets," said Fidelity Public Policy.