US Prosecutors Seek Changes to CLARITY Act Amid Cryptocurrency Regulatory Debate
US prosecutors have called for changes to the CLARITY Act, a bill aimed at regulating the cryptocurrency market. The National Association of Assistant US Attorneys and the National District Attorneys Association want adjustments to the Blockchain Regulatory Certainty Act (BRCA) provisions in the larger CLARITY framework.
The proposed changes would ensure guidelines for developers do not create or expand criminal liability under federal law. This move is seen as an attempt to narrow enforcement hooks that could arise from new obligations.
However, White House crypto adviser Patrick Witt has pushed back on these proposals, stating they are 'not even close' to the administration's position. The Senate Majority Leader John Thune has not scheduled a vote on the bill before its planned summer recess, leaving uncertainty around whether negotiations can resolve both the ethics dispute and the BRCA/developer language.
The CLARITY Act aims to shift regulatory focus over digital assets from the US Securities and Exchange Commission (SEC) to the Commodity Futures Trading Commission (CFTC). This move could change how enforcement risk is assessed and compliance is designed, as different agencies interpret market conduct through different legal frameworks.