Major Cities Chiefs Association backs CLARITY Act

The Major Cities Chiefs Association backed the CLARITY Act, citing added law enforcement provisions including coverage for state and local investigative agencies, formalized information-sharing with financial institutions and digital asset firms, and stronger anti-money laundering and suspicious transaction reporting requirements. In a letter to the Senate, the association also said provisions on research into crypto mixers, temporary freezes on suspicious transactions, and fraud prevention measures for crypto kiosks would strengthen investigative capabilities, improve industry accountability, and help protect victims of financial fraud.