Crypto volumes rise as lobby pushes federal rules
Centralized exchange volumes climbed in June for the first time in five months as the Blockchain Association lobbies for the Clarity Act to establish federal oversight and prevent another FTX-style collapse.
Trading volumes on centralized crypto exchanges rose in June for the first time in five months. Spot trading climbed 15.3% to $1.11 trillion, while real-world asset perpetual volumes surged to a record $311 billion.
The volume recovery arrives as the Blockchain Association pressures Congress to pass the Clarity Act. CEO Summer Mersinger framed the legislation as a critical consumer protection measure, highlighting the lingering fallout from the FTX collapse nearly four years ago.
The bill would install a comprehensive federal framework for centralized platforms, brokers, dealers, and custodians. Intermediaries would face mandatory registration, capital standards, risk-management protocols, and record-keeping rules.
For market participants, the legislation directly targets the custody risks that have defined previous crypto insolvencies. The act would legally require the segregation of customer assets from corporate funds and impose strict limits on the misuse of client property. "Fraud exists in every market, at every scale, but strong rules can mitigate the worst outcomes," Mersinger said.
It would also dictate exactly how those assets are treated if a platform fails. "Consumers should not have to wait for another crisis to get the protections they deserve," Mersinger argued. The proposed rules extend to anti-money laundering compliance by placing Bank Secrecy Act obligations on digital commodity exchanges, brokers, and dealers.
The bill creates a specific regulatory framework for digital asset kiosks, which are vulnerable to pressure tactics and scams. It also gives firms a clearer path to temporarily slow suspicious transactions when acting in good faith or assisting law enforcement. These tools are designed to give regulators visibility before a collapse occurs.
On the disclosure front, the act would force platforms to issue plain-language warnings about technology risks, governance structures, trading volatility, and conflicts of interest. Mersinger noted that ordinary users currently need specialized legal or technical knowledge to evaluate platform risks. She warned that failing to pass the legislation will preserve the exact regulatory gaps that left consumers vulnerable.
