CTA Urges Senate Action on CLARITY Act Amid Digital Asset Rule Uncertainty

The Consumer Technology Association (CTA) is urging the Senate to pass the CLARITY Act, which would establish clear federal rules for digital assets. The bill has already received bipartisan committee action and was approved by the House with broad support in 2025.

According to Michael Petricone, CTA's senior vice president of government affairs, regulatory certainty is crucial for investment, consumer protections, innovation, and American leadership in blockchain technology. He stated that businesses need clear federal rules governing digital assets before committing long-term capital and developing new financial products.

The Senate negotiations center on ethics rules, with U.S. Senator Cynthia Lummis (R-WY) releasing updated CLARITY Act text combining work from the Senate Banking and Agriculture committees. However, opposition remains over ethics and enforcement, particularly from U.S. Senator Elizabeth Warren (D-MA), who said the revised language leaves major conflicts of interest unresolved.

The CLARITY Act still faces opposition, but supporters view it as a durable framework for investment and competition. With advocacy groups pledging to score senators' votes and over 130 banking leaders urging lawmakers to prevent payment stablecoins from functioning like interest-bearing accounts, political pressure is building ahead of the November midterm elections.