In brief
- Catholic leaders urged the Senate to oppose a portion of the Clarity Act, warning it could enable human trafficking and other illicit finance.
- Protections for decentralized software developers could shield tools used for money laundering, the leaders said.
- The Clarity Act is facing opposition from multiple directions as boosters seek to pass it in the coming weeks.
The crypto industry’s long-coveted Clarity Act has attracted plenty of opponents in recent months, among them Wall Street leaders, consumer advocates, law enforcement groups, and Native American tribes. Now, the market structure bill has attracted the ire of a new and perhaps unexpected constituency: Catholics.
In a letter sent Tuesday to Senate leaders in both…
