The National Sheriffs' Association is dropping its opposition to landmark cryptocurrency legislation after spending months pushing back on it, signaling momentum ahead of a Senate vote later this month.
"Given the complexity of the legislation and the number of important details that remain under consideration, the NSA is changing its position on the CLARITY Act to neutral," the law enforcement group will write today in a letter to lawmakers, which an administration official shared with Semafor.
"[W]e believe the most appropriate course is to step back and allow the legislative process to proceed."
While other law enforcement groups put their weight behind the bill, the National Sheriffs' Association had doubled down on its concerns that the proposal could make it harder for law enforcement to prosecute illicit finance.
That was a problem for Democrats like Sen. Catherine Cortez Masto, D-Nev., whose support is needed to advance the bill.
Other, higher hurdles — namely, how to restrict the president's ability to profit from digital assets — remain for now uncleared.
