Online reports that the crypto advocacy group Stand With Crypto has joined forces with 65 agencies to urge U.S. lawmakers to support the Digital Asset Markets Clarity Act. The bill aims to establish a clear regulatory framework for the crypto industry, clarify the regulatory division of labor between the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), require digital asset companies to make customer disclosures and isolate customer funds, and is expected to enter the review process next week. In addition, Senate Banking Committee Chairman Tim Scott and Congressman Cynthia Lummis issued relevant legislative principles last month, and a digital asset hearing will be held on Wednesday. The letter specifically mentioned the urgency of legislation, pointing out that the United States needs to establish a regulatory framework by the end of September to avoid falling behind global competition.