The Blockchain Association urges the U.S. Senate to pass the Clarity Act, accompanied by a joint letter from 160 former security officials

According to The Block, the Blockchain Association sent a letter on Tuesday to U.S. Senate Majority Leader John Thune and Democratic Leader Charles Schumer, expressing strong support for the Clarity Act. The letter was signed by 160 former national security and law enforcement officials, emphasizing that the market structure for digital assets is a priority for law enforcement and national security.

The letter states that the Clarity Act expands law enforcement and financial crime prevention capabilities within the digital asset ecosystem, including key anti-illegal finance and law enforcement provisions, such as expanding the Bank Secrecy Act and sanctions obligations, and establishing a Treasury-led law enforcement agency and private sector information-sharing mechanism. The Blockchain Association emphasizes that these are not measures to relax regulation, but rather tools to enhance law enforcement. The bill has passed the Senate Banking Committee and is currently awaiting a vote by the full Senate. The Blockchain Association also plans to hold a virtual town hall on Thursday to discuss the bill.