CLARITY Act Clears a Key Hurdle
The National Sheriffs’ Association has withdrawn its opposition to the U.S. CLARITY Act and moved to a neutral position. According to Cryptopolitan, the organization sent a letter to Senate leaders saying it would no longer campaign against the legislation. The association had previously argued that the bill could weaken efforts to combat illicit finance, but it has now stepped back and will allow the legislative process to continue. The change comes just weeks before a September 15 Senate cloture vote, which requires 60 votes to succeed. Republicans hold 53 seats, meaning at least seven Democrats would need to support the measure. Major disagreements remain, including the scope of protections for software developers, anti-money-laundering rules and restrictions on political conflicts of interest involving digital assets. For xbit.money users, progress on the CLARITY Act could eventually provide greater regulatory certainty for crypto companies, exchanges and investors in the United States.