Police Back Clarity Act as Crypto Bill Gains Momentum

The National Fraternal Order of Police has officially endorsed the Clarity Act, giving the major crypto bill a fresh boost in Washington. In a letter to lawmakers, the group stated that the newest draft helps local police investigate financial crimes and protect consumers from digital asset fraud.

Lawmakers are currently reviewing the revised draft, which includes a ban on officials and their families issuing or promoting crypto. This update aims to address concerns raised by critics like Senator Elizabeth Warren. Alongside law enforcement, major crypto advocacy groups also backed the bill on Friday to help establish federal consumer protection rules.

The legislation has faced hurdles previously due to disagreements with traditional banking leaders over stablecoin yields. Now that a new draft is circulating, traders and lawmakers expect the bill to head toward a floor vote soon.