FOP Backs CLARITY Act Amid Crypto Regulation Debate
The National Fraternal Order of Police (FOP) has endorsed the latest version of the CLARITY Act, which aims to regulate the crypto market and protect consumers. The FOP said the bill gives state and local law enforcement better tools to investigate financial crimes involving digital assets.
In a letter to Senators Elizabeth Warren and Timothy Eugene Scott, the FOP pointed out that the latest draft includes provisions that improve coordination between federal and state agencies when dealing with crypto-related crimes.
The FOP also noted that the bill introduces anti-money laundering and sanctions rules across the digital asset industry. Additionally, it provides new protections for people who fall victim to fraud involving digital asset kiosks and related activities.