#Clarity
🚨 CLARITY Act receives second major endorsement from US law enforcement!
The Federal Law Enforcement Association (FLEOA) has officially endorsed the crypto regulation bill in a letter to the Senate. This is a major boost for supporters of the bill before the August recess of Congress, refuting accusations that the law will hinder the fight against cryptocrime.
🛠️ What do law enforcement propose to change?
While FLEOA praises the document for its balance of innovation and security, they are asking for the following changes to the rules for DeFi:
Identify those responsible in decentralized systems.
Close loopholes for companies that masquerade as "decentralized" to avoid oversight.
Simplify proving guilt in court and clearly preserve all existing powers of investigators.
⏳ Time is running out
The Senate recess (August 8) is less than a month away. Supporters of the bill understand that this is a crucial moment.
Senator Cynthia Lummis: “This is our last chance to pass crypto regulations by 2030. Otherwise, another country will write them and we will be caught up.”
🚨 CLARITY Act receives second major endorsement from US law enforcement!
The Federal Law Enforcement Association (FLEOA) has officially endorsed the crypto regulation bill in a letter to the Senate. This is a major boost for supporters of the bill before the August recess of Congress, refuting accusations that the law will hinder the fight against cryptocrime.
🛠️ What do law enforcement propose to change?
While FLEOA praises the document for its balance of innovation and security, they are asking for the following changes to the rules for DeFi:
Identify those responsible in decentralized systems.
Close loopholes for companies that masquerade as "decentralized" to avoid oversight.
Simplify proving guilt in court and clearly preserve all existing powers of investigators.
⏳ Time is running out
The Senate recess (August 8) is less than a month away. Supporters of the bill understand that this is a crucial moment.
Senator Cynthia Lummis: “This is our last chance to pass crypto regulations by 2030. Otherwise, another country will write them and we will be caught up.”