America’s largest police union, the National Fraternal Order of Police (FOP), and a trio of crypto organizations have openly supported the Digital Asset Market Clarity Act.
In a July 24 letter, FOP National President Patrick Yoes attributed the organization’s new position to the revision of Section 10604 of the Blockchain Regulatory surety Act (BRCA). The latest compilation gives law enforcement authorities authority over digital asset crime.
Crypto organizations are lobbying for the CLARITY Act
On the same day, the Blockchain Association, Crypto Council and Digital Chamber jointly urged the Senate to consider the bill. Their letter reads in part:
“This is a critical opportunity for the Senate to improve the status quo by establishing sustainable rules for digital assets that protect consumers, safeguard markets, and ensure innovation can thrive in the United States.”
Patrick Witt, executive director of the President’s Council of Advisors for Digital Assets, expressed confidence in the bill’s passage, saying:
“I am optimistic that we can get the necessary votes.”
Headwind and chance of passage
Notably, Democrats continue to oppose the CLARITY Act, citing ethical conundrums associated with President Trump’s crypto efforts. Senator Thom Tillis now says the president will soon meet with the Senate to reach an agreement on these reservations. A specific date was not given.
On the plus side, Senator Cynthia Lummis recently confirmed that the law requires broker-quality bankruptcy protection. The legislation would protect investors’ funds from service provider bankruptcies and ensure that cryptocurrencies are owned exclusively by end users.
Still, the odds of the CLARITY Act passing in 2026 remain at a low of 35% and 40.6% for Polymarket and Kalshi, respectively.
Source: Grayscale investments
The poor sentiment is driven by repeated delays, plus opposition from banks and Democrats to aspects of the bill. Look forward to the President’s upcoming meeting with the Senate and subsequent vote on July 27.
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