1,200 Tech Companies Push Senate to Pass CLARITY Act

The Consumer Technology Association, representing more than 1,200 technology companies, urged Senate leaders to advance the CLARITY Act as digital asset developers face uncertainty over federal oversight.

In a June 17 letter to Majority Leader John Thune and Minority Leader Charles Schumer, the association argued that businesses and developers need clearer rules. Kinsey Fabrizio, CTA's president and CEO, wrote: "On behalf of the Consumer Technology Association (CTA), which represents more than 1,200 technology companies ranging from startups to some of the world's largest innovators, I urge the Senate to move quickly to pass the CLARITY Act."

The CLARITY Act includes provisions protecting developers of open-source software and self-custody technologies. Under the bill, those who create tools used by others would not be treated as financial intermediaries solely because of that activity.

CTA said regulatory uncertainty remains a challenge for companies building blockchain-based products. The association noted that digital asset technologies are used across industries for payments, financial access, and cybersecurity.

The House approved the CLARITY Act with bipartisan support. The Senate Banking Committee later advanced the measure through a bipartisan vote. CTA urged the full Senate to bring the legislation to the floor.

The association also argued that clearer rules are important for maintaining U.S. competitiveness. Other jurisdictions continue attracting investment with more defined regulatory frameworks, CTA said.

"CTA strongly supports the CLARITY Act and respectfully urges the Senate to bring the legislation to the floor and pass it without delay," Fabrizio wrote.

CTA said passing digital asset market structure legislation this year is important to preserving U.S. leadership in technology and capital markets. The group's membership includes Amazon, Apple, Google, Intel, and other major technology firms.