White House · CLARITY Act · Cointelegraph
Catholic leaders, US authorities challenge CLARITY Act over illicit activity
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“Regulatory certainty should not come at the expense of accountability, transparency, victim protection, or public safety,” the law enforcement associations said.
Key facts
- Meanwhile, the Alliance to End Human Trafficking sent a similar letter Tuesday to Senate Republican Leader John Thune and Senate Democratic Leader Chuck Schumer, also flagging Section 604
- The law enforcement group includes the National District Attorneys Association, the National Association of Assistant United States Attorneys, the International Association of Chiefs of Police
- However, Lindsay Fraser, chief policy officer at the Blockchain Association, said the letter showed a “fundamental misunderstanding” of the CLARITY Act
- The CLARITY Act, which is set for a House hearing on July 17, aims to establish a regulatory framework for digital assets but has garnered several critics
Summary
A group of law enforcement organizations and a coalition of Catholic organizations have become the latest two groups urging caution over the US CLARITY Act, which is heading for a key hearing in July. In letters sent Tuesday, four law enforcement organizations reached out to White House officials with concerns that the CLARITY Act could create oversight gaps when it comes to illicit activity. The CLARITY Act, which is set for a House hearing on July 17, aims to establish a regulatory framework for digital assets but has garnered several critics.