More than 100 crypto firms and industry groups are pressing the U.S. Senate to advance long-awaited market structure legislation, warning that continued inaction risks pushing innovation and capital outside the country.

In a joint letter sent April 23, the Crypto Council for Innovation and the Blockchain Association urged the Senate Banking Committee to move forward with a markup of the “Clarity Act,” a bill designed to establish a comprehensive federal framework for digital assets.

The letter, seen by Bitcoin Magazine, was addressed to Committee Chairman Tim Scott, Ranking Member Elizabeth Warren, Subcommittee Chair Cynthia Lummis, and Ranking Member Ruben Gallego,…

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