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The White House plans to sit down with law enforcement agencies on Wednesday to discuss the key provisions of the CLARITY Act, with the core controversy being: will this crypto-friendly bill open the door to money laundering.
Law enforcement is worried about deregulation, while the crypto community hopes it will clear regulatory confusion. This meeting itself indicates that the bill has reached a stage where balancing the concerns of both parties is necessary, not just sketching on a draft paper.
For the industry, the direction of the CLARITY Act will directly impact the operational boundaries of crypto companies in the United States. The smoother the bill passes, the lower the institutional entry costs will be.