More than 60 well-known CEOs and founders of cryptocurrency companies posted letter for Senate Majority Leader John Thune and Minority Leader Chuck Schumer on June 9, calling on the entire Senate to pass the Digital Property Market Clarity Act with its blockchain defense programs intact – providing those who signed described as a non-negotiable condition of their support.
The letter, signed by the officials of Coinbase, a16z crypto, Uniswap, Solana Labs, Kraken, Paradigm, Galaxy, Ledger, and many other leading companies, focused on Section 604 of the Clarity Act – Blockchain Regulatory Certainty Act, or BRCA – which protects non-compliance with the management of the Bank’s software and the operators of the Bank’s software.
The signatories argued that without The cost of BRCAThe broad market system of the bill may fail to provide the legal guarantee necessary to continue blockchain technology in the United States.
“From the development of Bitcoin to the smart design of DeFi, developers need legal certainty to openly create, maintain, and contribute to crowd-sourced applications,” the letter reads.
Where the Clarity Act stands
The Clarity Actknown as HR 3633 – the Digital Asset Market Clarity Act – has been years in the making. The bill passed the House of Representatives in July 2025 by a vote of 294-134, a margin that reflects the desire to establish federal laws governing the financial sector.
The bill was suspended twice in the Senate, most notably in January 2026 when the Senate Banking Committee. delayed After Coinbase stopped support due to banning the stablecoin reward.
The Senate Banking Committee passed the bill on May 14, 2026, 15-9. voteand Democrats Ruben Gallego of Arizona and Angela Alsobrooks of Maryland are crossing the aisle to Republicans. The bill was placed on the Senate’s Legislative Calendar on June 1, 2026. Galaxy Research estimates that the bill has a 60-75% chance of becoming law in 2026 and is preparing for the president’s official signature during the week of August 3, although Senator Cynthia Lummis, one of the bill’s authors, warned the committee.
Similarly, at the end of the week, more than 200 crypto companies and organizations, led by Stand With Crypto, he encouraged Senate leaders to bring the Clarity Act to a full Senate vote, arguing that clear legislation is needed to protect the digital economy in the United States.
The Clarity Act is long overdue
BRCA, incorporated as Section 604 of the Clarity Act, establishes a principle from FinCEN’s 2019 guidance: that manufacturers and infrastructure providers that do not store or manage user funds are not subject to Bank Secrecy Act or prosecution under 18 USC § 1960.
The proposal draws a strong line between the central functions of the economy – exchanges, existing wallets – and the development of open protocols. DeFi Education Fund and Coin Center all have explained BRCA as a requirement for any market design bill, they argue that without it, manufacturers face the risk of being accused of developing unlicensed software.
The letter of June 9 also encouraged the Senate to maintain the protection of its partners in the Clarity Act Section 601, which exempts developers from the registration requirements of the SEC, and Section 207 of the Digital Commodity Intermediaries Act of the Senate Agriculture Committee, which does the same for commodity laws.
The bill still faces a difficult process to be enacted. The Senate Banking Committee’s version must be joined by the Senate Agriculture Committee before a full Senate vote, where the bill needs 60 votes to pass.
The Senate and House versions must be reconciled before they reach President Trump’s desk. Senate Democrats led by Sen. Elizabeth Warren say the anti-gambling provisions in the bill are still too weak.
