The Blockchain Association, a leading advocacy group for the U.S. digital asset industry, has sent a letter to the Senate pressing for the advancement of the CLARITY Act. The letter carries the signatures of 160 former officials from national security, intelligence, and law enforcement backgrounds, underscoring broad support among seasoned security professionals.
According to the association, the proposed legislation would significantly tighten anti-money laundering (AML) obligations in the digital asset space and expand the reach of the Bank Secrecy Act (BSA) to cover more crypto businesses. It would also mandate that the U.S. Treasury share information with the Federal Bureau of Investigation (FBI), the Department of Justice, other federal agencies, and the private sector. A key focus of this information-sharing is to combat cryptocurrency scams that often target elderly people—a problem that has drawn increasing enforcement attention in recent years.
However, it is important to note that this is a legislative initiative, not a report of confirmed fraud cases. The bill is still in its early stages and has not yet become law. Its progress in the Senate will depend on the pace of deliberations and bipartisan coordination, leaving the timeline uncertain at this stage.