CLARITY Act loses key law enforcement opponent

The National Sheriffs’ Association has withdrawn its opposition to the CLARITY Act, adopting a neutral position 12 days before the Senate’s scheduled Sep. 15 procedural vote.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...