The Blockchain Association sent a letter on Tuesday to Senate Majority Leader John Thune and Senate Democratic Leader Charles Schumer expressing strong support for the Clarity Act. The letter, signed by 160 former national security and law enforcement officials, urged the Senate to pass the legislation. The Clarity Act passed the Senate Banking Committee last month and currently awaits a vote in the full Senate, while lawmakers continue to debate whether the bill should include ethics provisions that would restrict elected officials from participating in crypto ventures.
Clarity Act Awaits Full Senate Vote Amid Ethics Debate
The Clarity Act passed the Senate Banking Committee last month and currently awaits a vote in the full Senate. Lawmakers continue to debate whether the bill should include ethics provisions that would restrict elected officials from participating in crypto ventures, a debate fueled in part by President Donald Trump's crypto business interests.
Letter Highlights Anti-Illicit Finance Provisions
The letter stated that "the Clarity Act expands law enforcement and financial crime prevention capabilities across the digital asset ecosystem." The Blockchain Association wrote in a post on X that the letter "makes the case that digital asset market structure is a law enforcement and national security priority."
According to the association, "clear rules bring activity under U.S. oversight, strengthen consumer protection, and help investigators catch bad actors." The letter said the bill includes key anti-illicit finance and enforcement provisions, including expanded Bank Secrecy Act and sanctions obligations.
The legislation would also establish Treasury-led information sharing among law enforcement agencies and private sector entities, as well as a permanent interagency working group focused on illicit finance involving crypto. "These are not deregulatory measures," the letter added. "They are enhanced enforcement tools designed to improve visibility, coordination, compliance, and accountability across digital asset markets."
Blockchain Association Plans Senate Fly-In and Virtual Town Hall
The Blockchain Association plans to host a fly-in to Washington, D.C. for meetings across 18 Senate offices. The organization is also scheduled to organize a virtual town hall on Thursday to discuss how the bill supports law enforcement and national security.
The town hall is set to feature Senator Cynthia Lummis, Majority Whip Tom Emmer, and White House Executive Director of President's Council of Advisors for Digital Assets Patrick Witt.
FAQ
What did the Blockchain Association send to Senate leadership on Tuesday?
The Blockchain Association sent a letter on Tuesday to Senate Majority Leader John Thune and Senate Democratic Leader Charles Schumer expressing strong support for the Clarity Act. The letter was signed by 160 former national security and law enforcement officials.
What provisions does the Clarity Act include according to the letter?
According to the letter, the Clarity Act includes key anti-illicit finance and enforcement provisions, including expanded Bank Secrecy Act and sanctions obligations. The legislation would also establish Treasury-led information sharing among law enforcement agencies and private sector entities, as well as a permanent interagency working group focused on illicit finance involving crypto.
When is the Blockchain Association hosting a virtual town hall about the Clarity Act?
The Blockchain Association is scheduled to organize a virtual town hall on Thursday to discuss how the bill supports law enforcement and national security. The town hall is set to feature Senator Cynthia Lummis, Majority Whip Tom Emmer, and White House Executive Director of President's Council of Advisors for Digital Assets Patrick Witt.
