US Senate · CLARITY Act · U.S. · Elizabeth Warren · Cointelegraph
US law enforcement group drops opposition to CLARITY Act: Report
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The Major County Sheriffs of America said it still wants the CLARITY Act amended to give local law enforcement more resources to investigate illicit finance cases.
Key facts
- The MCSA previously contended that Section 604 could create a loophole for criminals to exploit, making it tougher for law enforcement to investigate crypto-related crimes
- The MCSA said it would like the CLARITY Act to be amended to include state law enforcement in Section 309, which requires the Treasury Department to study decentralized finance and illicit finance
- Section 604 relates to the Blockchain Regulatory Certainty Act, which seeks to protect developers from liability for illicit activity committed by users on their decentralized platforms
- The bill has been awaiting a full Senate vote since May, when the Senate Banking Committee passed the bill mostly along party lines
Summary
The Major County Sheriffs of America reportedly said it no longer opposes the CLARITY Act after initially raising concerns over how the bill would affect illicit finance investigations. In a letter to US Senate Banking Committee chair Tim Scott and Senator Elizabeth Warren on Friday, the MCSA said it shifted its stance on the CLARITY Act to “neutral” after some of its concerns in a May 14 letter regarding Section 604 in the bill were addressed. Section 604 relates to the Blockchain Regulatory Certainty Act, which seeks to protect developers from liability for illicit activity committed by users on their decentralized platforms. The MCSA previously contended that Section 604 could create a loophole for criminals to exploit, making it tougher for law enforcement to investigate crypto-related crimes.