If the CLARITY Act actually passes, American DeFi practitioners will finally no longer have to guess regulatory attitudes every day.

Wu said that the Blockchain Association issued an open letter stating that 160 former national security, intelligence, and law enforcement officials have written to Senate Majority Leader John Thune and Minority Leader Chuck Schumer, supporting the advancement of the Digital Asset Market Structure Act, the CLARITY Act. The open letter states that a clear regulatory framework helps bring more digital asset activities under U.S. regulation, improves enforcement visibility, and aids in combating fraud, money laundering, sanctions evasion, and terrorist financing. The open letter also mentions that the bill will expand BSA and sanctions compliance obligations and establish information sharing and inter-agency cooperation mechanisms related to illegal financial activities involving digital assets.