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The new enemy of the CLARITY Act – the Catholic Church…
A coalition of 82 Catholic leaders and organizations sent a letter to U.S. Senate leaders. Catholics oppose a key section of the CLARITY Act bill.
It concerns Section 604, which protects developers of decentralized software from criminal prosecution. For the crypto industry, this is a red line – without this protection, many are ready to block the entire law.
According to the Catholic Church and related organizations, such protection could create loopholes for criminals – making it harder to track money related to human trafficking, child exploitation, and money laundering.
Wall Street, law enforcement, and other groups are already actively opposing the CLARITY Act, and now Catholics have joined in. If the bill is not passed in the coming weeks, the chances of it passing this year are almost zero, given the upcoming midterm elections in November.