The crypto advocacy group, the Chamber of Digital, is increasing pressure on the U.S. Congress to pass the Clarity Act.

PANews reported on May 29th that, according to The Block, the crypto advocacy group Chamber of Digital Commerce has intensified its pressure on Congress, launching an action to push for the passage of the Clarity Act. The Chamber of Digital Commerce launched a website on Thursday as a central platform for people to write letters to lawmakers. Chamber of Digital Commerce CEO Cody Carbone stated that this is part of a broader effort to push the Clarity Act into law this year, adding that Congress needs to know what Americans expect of them regarding the bill.

Over the past year, the crypto industry has intensified its efforts to get federal regulatory legislation signed into law. One version of the bill passed the House of Representatives last year, but it has stalled in the Senate in recent months due to disagreements over how stablecoin rewards should be handled. While this issue appears to be resolved, new ethical and DeFi questions have surfaced. A spokesperson for the Chamber of Digital Commerce stated that over 70 million Americans own cryptocurrency and need the protections provided by the Clarity Act.

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Brookings Institution researchers warn that the Clarity Act could result in "regulation in name only, without real regulation."
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