Crypto advocates contact Congress one million times for the Clarity Bill

iconKuCoinFlash
Share
This is the logo of the coin.
XRP
$1.00-0.2%
This is the logo of the coin.
BTC
$63,238.50-0.4%
This is the logo of the coin.
ETH
$1,877.21-0.75%
AI summary iconSummary
Crypto market advocates reached 1 million contacts with Congress in support of the Clarity Act, according to Stand With Crypto, as the August 7 recess approaches. Institutional backing includes BlackRock and Fidelity. Galaxy Research lowered the odds of the bill passing in 2026 to 30%. New York Attorney General Letitia James warned that the bill could undermine state enforcement capabilities. Crypto analysis shows increasing pressure but persistent challenges remain.

Odaily Planet Daily News: The crypto advocacy group Stand With Crypto announced that supporters have contacted members of Congress about the Clarity Act one million times, with just seven days remaining before the Senate adjourns on August 7. The organization stated this is a critical moment and urged advocates to contact senators while Congress is still in session. Institutions such as BlackRock, Fidelity, Goldman Sachs, and Franklin Templeton have publicly supported the bill. However, Galaxy Research has lowered the probability of the bill passing in 2026 from 50% to 30%, citing unresolved controversies, Senate voting requirements, and a tightening schedule. On July 27, New York Attorney General Letitia James urged Congress to strengthen crypto regulation and warned that the Clarity Act could limit state and local enforcement against fraudulent platforms.

Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information. Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.