A coalition of Catholic leaders and organizations, brought together by the Alliance to End Human Trafficking (AEHT), has voiced opposition to a key provision within the CLARITY Act. In a letter to Senate leaders, the group expressed concerns that Section 604 of the bill, which codifies the Blockchain Regulatory Certainty Act (BRCA), could inadvertently facilitate illicit finance, including human trafficking and money laundering.
The BRCA aims to exempt developers of decentralized crypto software from criminal prosecution, a measure considered crucial by many in the crypto industry. However, AEHT argues that these broad carveouts may impede efforts to monitor financial activities tied to criminal enterprises. The group is urging the Senate to ensure the bill includes robust anti-money laundering and accountability measures.
This opposition adds to the growing list of detractors for the CLARITY Act, which has also faced criticism from Wall Street, consumer advocates, law enforcement, and Native American tribes. Meanwhile, the Digital Chamber is actively lobbying for the bill's passage, seeking regulatory clarity for digital assets. The U.S. House of Representatives has scheduled a hearing for July 17, though the Senate's timeline remains uncertain. Market sentiment, based on Polymarket data, indicates a 42% probability of President Donald Trump signing the bill into law this year.
