The post CLARITY Act loses key law enforcement opponent appeared on BitcoinEthereumNews.com.
The National Sheriffs’ Association has withdrawn its opposition to the CLARITY Act, adopting a neutral position 12 days before the Senate’s scheduled Sep. 15 procedural vote. Summary The National Sheriffs’ Association changed its CLARITY Act position from opposition to neutral. Its earlier objections focused on anti-money laundering rules for DeFi platforms and non-custodial software. The Senate needs at least 60 votes to advance the bill through the Sept. 15 cloture vote. House scheduling changes leave Congress little time to complete the legislation before the midterm elections. Why the sheriffs withdrew their CLARITY Act opposition The National Sheriffs’ Association said in a Sep. 3 letter to Senate Majority Leader John Thune and Minority Leader Chuck Schumer that it had changed its position on the Digital Asset Market Clarity Act from opposition to neutral. NSA President Sheriff Troy Wellman and Executive Director Justin Smith said the bill covers a complex area in which lawmakers, the White House, and interested organizations have spent months considering unresolved details. The group decided that Congress should continue its work rather than face continued opposition from the sheriffs’ organization. “We believe the most appropriate course is to step back and allow the legislative process to proceed to establish a clear, effective, and much-needed regulatory framework,” Wellman and Smith wrote. The letter removes a vocal law enforcement objection before senators decide whether to begin formal debate on the legislation. Neutrality does not amount to an endorsement, and the NSA did not say that all its earlier concerns had been resolved. Instead, the organization recognized the work undertaken since it first challenged the bill and said remaining questions should be handled through negotiations. Its decision gives Senate leaders more room to discuss illicit-finance provisions without an active opposition campaign from one of the country’s main sheriffs’ groups. Law enforcement…