CLARITY Act Gains Momentum with Support from Police Group and Crypto Association

The revised CLARITY Act has gained significant support from various stakeholders in the US. The National Fraternal Order of Police (FOP) and the National Cryptocurrency Association (NCA) have both endorsed the legislation for different reasons.

The FOP, which represents over 382,000 law enforcement officers, expressed satisfaction with the changes made to the Blockchain Regulatory Certainty Act (BRCA) provisions. The organization stated that the revised bill would not limit law enforcement agencies' and prosecutors' ability to investigate crimes involving digital assets.

The FOP highlighted several key provisions, including anti-money laundering and sanctions compliance, digital asset kiosks, seizure and tracing authorities, temporary transaction holds requested by law enforcement, and new grant and training programs aimed at strengthening digital asset investigations. The organization also noted that the revised legislation establishes a digital asset cyber innovation center.

In contrast, the NCA argued that the CLARITY Act provides stronger consumer protections while reducing regulatory uncertainty. According to the NCA, more than 67 million Americans own cryptocurrency, and 73% of respondents support stronger consumer protections. The organization also cited its research showing that 77% of respondents favor comprehensive legislation for digital assets.