The Blockchain Association said cryptocurrency legislation would support law enforcement, countering claims made by the National Sheriffs' Association that the bill would make it harder to protect against financial crimes.
On Monday, in a letter sent to Senate Majority Leader John Thune and Senate Minority Leader Chuck Schumer, the crypto industry group said the NSA misconstrued the Clarity Act's approach to regulating decentralized finance.
The letter comes amid a consequential week in Washington as the Senate is set to go on recess on Friday, leaving just a few days for any movement on the Clarity Act.
"I think because a vote on the Senate floor is in the near future, it's really important to correct the record on any kind of existing misconceptions about the bill," said Lindsay Fraser, BA's chief policy officer, in an interview with The Block.
The Clarity Act, which would regulate the crypto industry comprehensively for the first time at the federal level, is entering a pivotal week in the Senate.
