More than 200 crypto firms and lobbying groups want the Senate to stop kicking the can on stablecoin and token market rules. In a letter sent Monday, the group urged Senate Majority Leader John Thune and Minority Leader Chuck Schumer to schedule a floor vote on the Digital Asset Market Clarity Act “without delay,” according to a letter shared first with Bloomberg by The Defiant.
The push is straightforward. The signers are asking for a procedural step that often determines whether a bill turns into law or stays trapped in committee purgatory. A “floor vote” gives lawmakers a direct chance to approve or reject the package, not just debate its shape.
What the letter asks Senate leaders to do
The Defiant reports the letter calls on Thune and Schumer to schedule the Digital Asset Market Clarity Act for a floor vote “without delay.” It frames the timing as urgent enough that 200-plus market participants are willing to coordinate public pressure.
That matters for assets tied to US regulatory expectations. Clearer rules can reduce uncertainty around compliance design, product launches, and how firms structure custody, brokerage, and trading access. The risk is that “clarity” arrives slowly anyway, while firms keep operating under patchwork enforcement and guidance.
Galaxy’s cut to passage odds
The Defiant also points to commentary from Galaxy that estimates passage odds at 60% after a recent change to the bill’s prospects. That number is not a guarantee. It is a probability assessment, and the source framing makes clear it can move as Senate arithmetic, committee movement, and leadership priorities shift.
A 60% outlook still implies a meaningful chance the act fails to clear the final steps, even if lawmakers agree it should move. For regulated token businesses, that uncertainty is not academic. It changes how long they can wait before committing to compliance work and how quickly they need to adapt to new requirements if the bill clears.
Why this matters beyond this bill
A floor vote is the point where politics meets drafting. The Digital Asset Market Clarity Act may not be perfect. But without action, firms face the same problem many industries do when legislation drags. They keep planning around regulatory guesswork instead of an official framework.
The Defiant’s reporting shows the industry response has shifted from lobbying for text to lobbying for a vote. That difference is a practical escalation. It suggests the signers believe the main risk is not disagreement over the bill’s goal, but delay.
The key facts
| Item | What happened | Source |
|---|---|---|
| Letter signers | More than 200 crypto firms and lobbying groups | The Defiant |
| Who they addressed | Senate Majority Leader John Thune and Minority Leader Chuck Schumer | The Defiant |
| What they asked for | Schedule a Senate floor vote on the Digital Asset Market Clarity Act “without delay” | The Defiant |
| Passage odds | Galaxy cut passage odds to 60% | The Defiant |
For readers tracking regulation risk, the headline isn’t just “a bill exists.” It is that the industry is now pushing for the vote that decides whether the bill becomes enforceable law, or remains a proposed framework that firms can’t rely on.