The 382,000-member Fraternal Order of Police endorsed the revised CLARITY Act after lawmakers added protections for criminal investigations, suspicious transaction holds, and digital asset seizures, even as Senate Democrats withheld support.
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The Fraternal Order of Police, the largest police union in the U.S., endorsed the latest version of the CLARITY Act after lawmakers tightened language on criminal investigations and digital asset seizures. The group represents more than 382,000 active and retired officers.
National President Patrick Yoes said in a July 24 letter to Senate Banking Chairman Tim Scott and ranking member Elizabeth Warren that the organization's earlier concerns had been "satisfactorily addressed."
The endorsement reverses the FOP's April opposition, when it warned that protections for noncontrolling blockchain developers could hamper cryptocurrency-related prosecutions. The revised bill clarifies that those protections will not limit investigations, prosecutions, or criminal statutes.
The FOP joins the National Organization of Black Law Enforcement Executives (NOBLE), which earlier became the first major police group to endorse the bill. NOBLE said the legislation expands investigative capabilities without weakening existing criminal authorities.
Major County Sheriffs of America stopped short of endorsing the bill but withdrew its opposition, signaling that revisions eased earlier objections.
Not everyone is on board. A coalition of more than 70,000 prosecutors, sheriffs, and police chiefs still wants changes, arguing that broad exemptions could weaken oversight.
The revised legislation lets digital asset companies and stablecoin issuers delay suspicious transactions at law enforcement's request without facing liability. Those temporary holds give investigators time to trace stolen assets and disrupt illicit transfers.
The bill also targets crypto ATM fraud and extends Bank Secrecy Act rules to covered digital commodity exchanges, brokers, and dealers. Those businesses would face anti-money laundering, customer identification, and due diligence requirements, according to an official summary.
Title IX creates a grant program for state and local digital asset enforcement, a law enforcement training program, and a digital asset cyber innovation center. It also funds research into technologies used in crypto-related crime and includes provisions aimed at protecting older Americans from fraud.
Senator Cynthia Lummis released the updated draft July 22 after Senate banking and agriculture committees combined their market-structure proposals. The measure covers securities oversight, commodities regulation, decentralized finance, illicit-finance controls, and federal ethics rules around digital assets.
Seven Democratic senators rejected the Republican text, saying in a joint statement that it falls short of a bipartisan deal. They cited unresolved issues on ethics, consumer protections, and market integrity.
Republicans may need Democratic votes to hit the 60-vote cloture threshold if the legislation faces a filibuster. The timing of a floor vote depends on whether negotiators can resolve those disputes.
Goldman Sachs CEO David Solomon publicly urged lawmakers to advance the CLARITY Act as the revised draft circulated. The GS stock page shows the bank's Alpha Score at 50/100, labeled Mixed, in the Financials sector.
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