The Blockchain Association has formally called on Senate leadership to accelerate the passage of the CLARITY Act, a legislative proposal aimed at clarifying regulatory frameworks around digital assets. The appeal, delivered in a letter to Senate Majority Leader John Thune and Democratic Leader Chuck Schumer, carries signatures from 160 former national security, intelligence, and law enforcement officials.
The letter stresses that without clear federal regulations, cryptocurrency activities risk migrating offshore to jurisdictions with less transparency, complicating efforts by U.S. authorities to detect, investigate, and prevent illicit financial conduct. Advocates argue the CLARITY Act would strengthen law enforcement’s ability to monitor and regulate the digital asset space effectively.
Key provisions of the CLARITY Act include expanding anti-illicit finance obligations through enhanced Bank Secrecy Act (BSA) requirements and broader sanctions enforcement. It calls for improved information sharing coordinated by the Treasury Department with agencies such as the Department of Justice, FBI, and Drug Enforcement Agency, and includes collaboration with private sector partners to improve oversight in the crypto ecosystem.
The legislation also aims to tighten controls over digital asset kiosks—points where individuals can buy or sell cryptocurrency—introducing transaction monitoring, reporting duties, limits on transactions, and anti-fraud mechanisms. These measures are particularly designed to protect vulnerable groups, such as seniors, who are frequently targeted by crypto scams.
The Blockchain Association emphasizes that the bill is not a move to deregulate but rather seeks to enhance transparency, compliance, and accountability across digital markets. These enforcement-focused improvements are intended to provide law enforcement with better tools without reducing consumer protections.
To build momentum, the association is organizing a virtual town hall featuring key policymakers and representatives, including Senator Cynthia Lummis, Majority Whip Tom Emmer, and a White House advisor on digital assets. The event will focus on how the CLARITY Act supports national security and law enforcement efforts.
The bill has made progress within the Senate Agriculture Committee, having cleared a significant markup stage earlier this year. With this step completed, a full Senate vote is anticipated during the summer session. However, even if the Senate approves the bill, it faces further legislative review in the House, which has previously considered a related version.