Crypto Council Fights Back as BlackRock Joins CLARITY Act Supporters

The Crypto Council for Innovation has returned to Capitol Hill to defend the CLARITY Act, amid criticisms from various groups. BlackRock has publicly backed the bill, stating that it is an important step toward establishing a regulatory framework for digital assets.

Crypto Council rejected claims that the bill is weak on illicit finance and national security, saying it expands AML and CFT requirements, supports public-private intelligence sharing, gives Treasury wider authority, and provides an extra $150 million for FinCEN.

The group also defended the bill's consumer protection language, stating that CLARITY, together with the Senate Agriculture Committee-passed Digital Commodities Intermediaries Act, would create broad protections for digital asset customers.