Americans are sending Washington a clear message: The United States must lead the future of digital finance, not lag behind while other countries write the rules. A new HarrisX national survey of registered voters found that 70% believe the United States should have already passed crypto legislation, 62% say it is important for America to set the global rules for digital finance, and 60% prefer clear federal legislation rather than case-by-case enforcement.
This makes the Senate Banking Committee’s decision to expand the Clarity Act a crucial next step in giving the United States a viable framework for digital asset markets.
For years, Washington has treated digital assets as a moving target. Technology evolved quickly, the market was volatile, and policymakers were still sorting risks and opportunities. This is no longer the case. Lawmakers, regulators and staff have spent years studying these markets, engaging stakeholders and resolving difficult questions regarding consumer protection, market integrity, custody, trading and disclosure.
The industry has also changed. A sector that once spoke in a scattered and often contradictory manner has become more disciplined in its engagement with policymakers. This is important because sustainable legislation comes from sustained commitment, practical proposals and a willingness to compromise.
The House made this clear when it passed the CLARITY Act with strong bipartisan support. This vote did not resolve all the outstanding issues, but it established something important: the structure of the digital asset market is squarely on the Congressional agenda. The Senate now has the opportunity to build on this foundation.
He does so with a more solid political base than just a year ago. The SEC and CFTC have taken steps to improve coordination and clarify how existing law applies to certain parts of the market. These efforts are important, but they also highlight the limits of agency action. Only Congress can establish lasting rules on regulatory limits, registration requirements, market oversight, and treatment of digital assets that do not fit neatly into older frameworks.
Meanwhile, the market continued to advance. Following the signing of the GENIUS Act, stablecoins have grown rapidly and are increasingly connected to traditional payment infrastructures. Tokenization is moving from concept to institutional experimentation. Large financial companies are testing blockchain-based systems for settlement and other market functions. Public blockchain networks are increasingly part of this activity.
Some of this development is taking place on networks like Solana. PayPal has extended PYUSD to Solana to support faster and lower cost payment use cases. Visa has included Solana in its stablecoin settlement work. And SoFi, which launched SoFiUSD in December, said parts of its broader digital asset banking platform are expected to leverage Solana alongside other networks. These examples show how digital asset markets are increasingly connected to real-world financial activity.
It’s clear: digital assets are the next generation of financial infrastructure.
Congress should legislate with this reality in mind. A market structure bill must do difficult and important work. It must draw workable boundaries between regulators. It must establish clear rules for market players while ensuring strong consumer protection. And it must take into account that blockchain networks and digital asset markets do not fit neatly into categories built for previous generations of financial products.
This is precisely why markup is important. This requires legislators to publicly present real legislation. Members debate the substance, propose amendments, resolve disagreements and check whether a proposal is ready for adoption. On such consequential legislation, it is in this process that serious policy development occurs.
For digital asset legislation to last, it must be bipartisan. A framework written along party lines will be fragile from the start. The rules that shape markets endure when both parties help write them. The good news is that more lawmakers on both sides now understand the issues. They understand the need to protect consumers, the importance of market integrity and the cost of leaving a growing sector stuck in legal uncertainty.
The United States has deep capital markets, strong institutions, world-class entrepreneurs, and a long history of leadership in financial innovation. It is also expected to bring these benefits to digital assets. Clear rules will protect consumers, strengthen markets, and give responsible manufacturers the confidence to operate and invest in the United States.
Digital asset markets will continue to grow. Capital will move. Infrastructure will be built. The question is whether the United States will shape that future with clear rules, credible oversight, and the confidence to lead.
The Senate can help answer this question now by advancing this bill and moving it closer to the president’s desk. It is essential that this is the case.
