FOP Backs CLARITY Act Update Amid BRCA Debate Continues
The National Fraternal Order of Police (FOP) has announced its support for the updated version of H.R. 3633, the Digital Asset Market Clarity Act.
In a letter addressed to Senate Banking Committee Chairman Tim Scott and Ranking Member Elizabeth Warren, the FOP stated that the revised language in Section 10604 addresses their previous concerns about law enforcement's ability to investigate crimes involving digital assets.
The FOP said that the clarification preserves investigators' and prosecutors' ability to pursue unlawful conduct related to digital assets, which directly addressed their concerns raised during earlier discussions over the legislation.
The bill introduces anti-money laundering and sanctions compliance requirements across the digital asset sector, as well as provisions allowing digital asset companies and stablecoin issuers to delay suspicious transactions voluntarily or at the request of law enforcement.