Senate Bill Would Shield Crypto Industry from Regulation

Colorado's U.S. Attorney during the Obama Administration and current Denver District Attorney John Walsh warns that the CLARITY Act would give a free pass to crypto corruption.

The bill, which is currently before the U.S. Senate, carves out cryptocurrency from anti-money laundering and anti-fraud rules that traditional banks have followed for decades.

This move would severely hamper law enforcement's ability to track down and stop crypto-related crimes, such as the estimated $9.3 billion in losses suffered by consumers in 2024 alone.

The International Association of Chiefs of Police, National Sheriffs' Association, and other law enforcement organizations have come out against the bill due to its lack of strong anti-corruption guardrails and ethics rules for public officials.