NSA Shifts Stance on CLARITY Act, Cryptocurrency Regulation Gains Momentum
A major US law enforcement group has shifted its stance on the CLARITY Act, potentially paving the way for cryptocurrency regulation.
The National Sheriffs' Association (NSA) recently sent a letter to Senate Majority Leader John Thune and Minority Leader Chuck Schumer, dated September 3. The letter was signed by Sheriff Troy Wellman of Moody County, South Dakota, and NSA Executive Director Justin Smith.
In the letter, the NSA states that it is changing its position on the CLARITY Act to neutral due to the bill's complexity and ongoing negotiations. This marks a notable retreat from the association's previous stance of active opposition.
However, this development does not necessarily mean that the bill will pass in time. The Senate holds its first procedural vote on September 15, but the House has canceled its final two sessions in September, leaving only two days for lawmakers to act before their recess until mid-November.