Crypto Council Counters CLARITY Act Criticism as BlackRock Backs Bill

TLDR

• Crypto Council returned to Capitol Hill to defend the CLARITY Act this week.
• BlackRock publicly backed the CLARITY Act for U.S. crypto market structure.
• CCI said CLARITY adds $150 million in funding for FinCEN.
• CCI said the bill expands AML, CFT, and Treasury enforcement powers.
• Bitcoin fell about 3% to $63,250 as the policy debate continued.

The Crypto Council for Innovation returned to Capitol Hill this week to defend the CLARITY Act as BlackRock joined major financial firms supporting the U.S. crypto market structure bill.

Bitcoin traded lower as the policy debate intensified. BTC fell about 3% to $63,250 after losing the $65,000 level, while daily trading volume dropped to $25.1 billion from more than $30 billion.

Crypto Council Pushes Back on CLARITY Act Claims

The Crypto Council for Innovation said Monday marked a key week for the CLARITY Act. The group said it would counter criticism of the bill and respond to claims around enforcement, consumer safeguards, and self-custody language.

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