The Blockchain Association has been actively pushing for the passage of the CLARITY Act, a bill that would provide stronger oversight and enforcement tools for the crypto industry. The association argues that clear rules will bring more crypto activity under US oversight, strengthening consumer protection and helping investigators catch bad actors.
According to the association, the CLARITY Act would expand the Bank Secrecy Act and sanctions duties for the industry, setting up Treasury-led information-sharing between agencies and private firms. It also calls for a permanent working group focused on illicit crypto finance.