More support has been thrown behind the Clarity Act as lawmakers rush to move past the long-awaited bill. This time from the Major City Mayors Association.
The nonprofit — made up of police chiefs from major U.S. cities — said Thursday it was pleased with how the bill dealt with financial crimes.
Lawmakers hope the Clarity Act will be passed before Congress leaves for its August recess. Although the bill was drafted by both the Republican and Democratic parties, some Democrats are dissatisfied with the current version.
“The latest changes to the legislation have received the support of the MCCA,” a message from the organization first said to publish Read on X by White House Semaphore correspondent Eleanor Mueller.
“It is critical that the bill now includes a new title with additional provisions for law enforcement,” she continued, adding that the latest update “represents a meaningful step towards improving the ability of law enforcement to investigate financial crimes involving digital assets.”
Last week, the National Fraternal Order of Police said it supports the bill. Democratic Senator Katherine Cortez Masto this week sent some proposed changes to the bill, along with two law enforcement groups, which she said they felt “good” about.
Major financial institutions, lawmakers and companies said they support the latest draft of the new bill, but a group of Democrats said last week in a statement that the legislation in its current form is insufficient.
Although it passed the House of Representatives last year with strong bipartisan support, the Clarity Act remained deadlocked through most of 2026. The banking lobby has raised concerns about stablecoin yields, and some lawmakers have said improvements must be made regarding ethics.
An updated Clarity Act bill was introduced last week that addressed some of these concerns — preventing government officials and their families from issuing or promoting cryptocurrencies.
Democrats — and some Republicans — have criticized President Trump’s business interests in cryptocurrency, with some claiming a conflict of interest as his family made money from cryptocurrencies and the decentralized finance protocol, World Liberty Financial.
Republicans hope to make gains Bipartisan support For the bill this week to advance the legislation. The long-awaited bill aims to create a regulatory framework for the cryptocurrency market in the United States
