The crypto advocacy organization Stand With Crypto urges the U.S. House of Representatives to pass the Digital Asset Market Clear Act

ChainCatcher news, according to The Block, the crypto advocacy group Stand With Crypto has united 65 organizations to urge U.S. lawmakers to support the Clarity Act. This bill aims to establish a clear regulatory framework for the crypto industry, clarifying the regulatory division between the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), requiring digital asset companies to disclose customer information and segregate customer funds, and is expected to enter the review process next week.

In addition, Senate Banking Committee Chairman Tim Scott and Representative Cynthia Lummis released relevant legislative principles last month, and a hearing on digital assets will be held on Wednesday. The letter specifically mentions the urgency of legislation, pointing out that the U.S. needs to establish a regulatory framework by the end of September to avoid falling behind in global competition.