Open Source · CLARITY Act · U.S. · US Senate · Bitcoinist
FOP Targets Key CLARITY Act Provision, Warning It Could Weaken Crypto Enforcement
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The National Fraternal Order of Police (FOP), the largest law enforcement organization in the United States, has weighed in on the CLARITY Act, sending a letter to lawmakers that argues against a specific part of the bill.
Key facts
- While Section 604 remains under scrutiny, the CLARITY Act still faces other unresolved policy battles
- In the correspondence—signed by FOP President Patrick Yoes—the group says it strongly opposes Section 604, a provision that, according to the letter’s description, would exempt certain
- The National Fraternal Order of Police (FOP), the largest law enforcement organization in the United States, has weighed in on the CLARITY Act, sending a letter to lawmakers that argues
- Crypto In America also reported that analysts expect the CLARITY Act to progress along party lines, noting that no Democrats on the Senate Banking Committee are expected to vote in support
Summary
In the correspondence—signed by FOP President Patrick Yoes—the group says it strongly opposes Section 604, a provision that, according to the letter’s description, would exempt certain non-controlling developers and providers from being treated as money transmitting businesses. In reports shared on social media, Yoes wrote to Senate Banking Committee Chairman Tim Scott and Ranking Member Elizabeth Warren, arguing that Section 604 would strip prosecutors and law enforcement of statutes they rely on to track and pursue people who commit crimes using digital assets. The FOP’s argument is that removing those tools would also make it easier for criminal organizations to profit from illegal activity.