🎥 @lindsayfraser0 of @BlockchainAssn says ethics concerns remain the biggest hurdle for crypto legislation even after CLARITY advanced through the Senate Banking Committee. “Both Senator Gallego and Senator Alsobrooks said that their yes vote in committee does not indicate that they will be a yes on the floor. They need some sort of ethics language.”

The following statement is attributed to Blockchain Association CEO @SummerMersinger after today's bipartisan committee vote on the Clarity Act: "Today’s bipartisan Senate Banking Committee passage of the Clarity Act is a defining moment for American leadership in the future of finance. Durable, lasting digital asset policy must be built on a bipartisan foundation, and today’s vote reflects the growing recognition across party lines that the United States needs clear rules of the road. For too long, regulatory uncertainty has sent talent, investment, and innovation overseas – strengthening foreign competitors while leaving American builders without the certainty they need to compete. The Clarity Act is an opportunity to reverse that trend, reshore the next generation of financial technology jobs, and ensure digital asset markets are built here in the United States under American values: consumer protection, open markets, individual freedom, and the rule of law. Just as importantly, clear rules will benefit American consumers by expanding access to compliant and innovative financial products, improving transparency and accountability in digital asset markets, and reducing reliance on opaque offshore platforms that operate outside U.S. oversight. Blockchain Association applauds the Committee for advancing this critical legislation with bipartisan support. Important work still remains, and we are fully committed to continued engagement with lawmakers and stakeholders as the bill moves swiftly toward consideration on the Senate floor."

The Senate Banking Committee markup of the Clarity Act is happening now. BA is monitoring live from the Committee hearing room as lawmakers debate the future of digital asset market structure legislation. Watch the livestream here 👇

🚨 WATCH: Chairman @SenatorTimScott leads the Senate Banking Committee in a historic markup of the CLARITY Act, legislation to establish clear rules of the road for digital assets.

1/ In 2021, I wrote that crypto had three superpowers in Washington: A big and passionate community. The ability to mobilize fast. And the ability to HODL. Ahead of today’s markup, I’ve been thinking about how those superpowers have grown up. 🧵

1/ Today, the Senate Banking Committee will mark up the Clarity Act. 🧵 For our industry, this moment has been years in the making. It reflects the serious, sustained work of builders, policymakers, staff, regulators, and advocates who refused to accept regulatory limbo as the status quo. Our latest view:

We share the goal of rooting out illicit finance and stopping bad actors in digital asset markets. The Clarity Act is a huge step forward - it strengthens law enforcement tools while providing clear rules for compliant U.S. innovation.

BRCA belongs in CLARITY. Great work by Senator Grassley to ensure revised language to ensure prosecutors retain authority to pursue bad actors, prevent weakening of existing AML statutes, Title III enhancements, while protecting innovation.

In an interview with @CapitolAccount, our Chief Policy Officer @lindsayfraser0 discussed this week's letters from law enforcement groups and their concerns about the Clarity Act: “These software developer protections are extremely narrow. They only relate to developers who truly do not exercise any sort of custody, any sort of control.” She submitted that if opponents “took a closer look…they would realize how positive the bill is for law enforcement.” And on the Roman Storm case, Lindsay commented that it's “one example of a lot of stories that haven’t received public attention” where U.S. entrepreneurs collectively spent millions of dollars defending themselves. “There are people who are creating useful technology for Americans, who are being targeted,” she said. “It just pushes people to want to leave the U.S. and develop these technologies elsewhere. Is that a better outcome for American consumers?”

The following statement is attributed to @blockchainassn CEO @SummerMersinger & @crypto_council CEO @_JiKim in response to law enforcement concerns about the Clarity Act:

We agree with @AARP: Congress should protect consumers from scams while giving law enforcement stronger tools to act. The Clarity Act does both—strengthening oversight of digital asset kiosks and preserving prosecutors’ authority to pursue criminal activity. Claims that the Clarity Act does not do enough to address fraud are unfounded. @AARP, one of the country’s leading consumer advocacy organizations, is actively supporting provisions in the bill designed to combat scams and protect vulnerable Americans. 👇

BA’s Chief Policy Officer, @lindsayfraser0 is currently briefing Senate Staff on each title of the Clarity Act ahead of tomorrow’s Senate Banking Committee markup. Thank you to our members @SolanaInstitute and @coinbase, as well as @fund_defi, for joining us to present.

This is a defining moment for American leadership. @blockchainassn & @crypto_council urge members of Senate Banking to support this legislation and work toward a final, bipartisan framework that ensures the US leads the next generation of financial innovation. Read our letter:

As a former head of a crypto trade association, I have some advice for bank lobbyists: upgrade your technology – and your advocacy. Public debate on X is a superpower. It allows for solutions to complex problems to be widely scrutinized and vetted. It also communicates support to our champions. And it activates the millions of passionate crypto users and builders who deserve a voice in Washington. Transparency is why crypto is winning.

The Senate Banking Committee votes on the CLARITY Act on Thursday. The entire US crypto market structure runs through that room. Tomorrow on The Modern Market we sit down with Lindsay Fraser, Chief Policy Officer at the Blockchain Association, one day before the vote. - 07:00 ET regular show - 07:45 ET interview

1/ There's never been a more critical time to join Blockchain Association. Digital asset legislation is actively being shaped and debated in Washington right now – from market structure to taxation to developer protections. Join us:

1/ Today, @BlockchainAssn and @crypto_council, joined by a broad coalition of more than 120 organizations from across the digital asset ecosystem, urged the Senate Banking Committee to move forward with a markup on market structure legislation. Years of bipartisan work have brought Congress to an important moment. The U.S. needs clear, durable rules that protect consumers, provide certainty, and reinforce American leadership in digital asset innovation.

1/ Blockchain Association recently launched its Tokenization Workstream, and we’re proud to be joined by dozens of leading member organizations helping shape policy discussions in Washington. This level of engagement reflects the growing momentum behind tokenization in the U.S. 👇 @0xProject, @a16zcrypto, @aave, @AvalanchePolicy, @BHDigitalAssets, @Bullish, @chainlink, @cryptocom, @DCGco, @ethena, @FalconXGlobal, @FlowTraders, @grayscale, @hedera, @HyperliquidPC, @injective, @the_matter_labs, @monarq_mgmt, @morpho, @Mysten_Labs, @Offchain, @okx, @OndoFinance, @_openworld, @plumenetwork, @0xPredicate, @SolanaInstitute, @SuperstateInc, @talostrading, @Uniswap, @ZcashFoundation

The following statement is attributed to Blockchain Association CEO @SummerMersinger in support of the Senate’s inclusion of CBDC prohibition language in the bipartisan 21st Century ROAD to Housing Act: