Blockchain Association Slams NSA's 'Misleading' Claims on CLARITY Act
The Blockchain Association has sent a letter to Senate leaders defending the CLARITY Act after a national law enforcement group claimed it could weaken efforts to fight financial crime.
The National Sheriffs' Association (NSA) had warned that the bill creates broad exemptions for decentralized finance (DeFi), crypto mixers, and cross-chain bridges, making it harder for law enforcement to stop money laundering and other illegal activities.
The Blockchain Association responded that the sheriffs misunderstood the bill, saying it requires any company or platform that controls customer funds to follow Bank Secrecy Act (BSA) rules, anti-money laundering laws, and sanctions requirements.
The association also pointed out that the bill includes $3 billion in funding to help state and local law enforcement investigate crypto-related crimes.