Fraternal Order of Police Endorses Revised CLARITY Act Amid Ongoing Negotiations

The Fraternal Order of Police (FOP), which represents over 382,000 active and retired law enforcement officers in the United States, has endorsed the revised CLARITY Act.

The FOP's endorsement reverses its earlier opposition to the bill, which was sparked by concerns that language involving noncontrolling blockchain developers could restrict prosecutors pursuing financial crimes involving cryptocurrency.

Revisions to the bill clarified that protections for certain noncontrolling software developers and decentralized technologies would not curtail investigations, prosecutions, or the application of established criminal statutes.

The CLARITY Act aims to provide clarity on digital asset market regulations, including provisions for temporary holds on suspicious transactions, digital asset seizures, and anti-money laundering requirements.