Stand With Crypto, an advocacy group affiliated with Coinbase
$1.18B
The group stated in a letter on July 7 that the US risks falling behind other countries if it continues without clear rules for digital assets.
They argued that regions like Europe and Asia are already offering friendlier conditions for crypto businesses, which has led some companies and skilled workers to move abroad.
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OpenSea, Dapper Labs, and other major blockchain companies signed the letter. They said that the lack of consistent rules discourages large financial institutions from entering the market. This slows development, increases compliance costs, and pushes US talent and investment overseas.
The letter also argued that blockchain technology plays an important role in areas such as payments, online ownership, and digital security. Without stronger support at home, the US could lose its position in shaping the future of global trade.
Furthermore, they acknowledged that crypto policy has become politically charged. However, they urged lawmakers to focus on long-term economic benefits rather than short-term political debates.
They said the bill provides a sensible framework that both sides of the aisle could support by replacing case-by-case enforcement with clear rules.
Recently, a group of US crypto advocacy organizations released a joint statement asking Congress to attach the Blockchain Regulatory Certainty Act (BRCA) to the CLARITY Act. Why? Read the full story.
Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.
With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.
Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.
Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.
