Crypto’s Clarity Act Has a New Enemy: Catholic Leaders
Catholic leaders and organizations have joined the growing opposition to the Clarity Act, warning Senate leaders that the bill could conflict with Christian teaching by making it easier to fund human trafficking and other abuses. In a letter organized by the Alliance to End Human Trafficking, 82 Catholic leaders said financial systems should protect human dignity, not enable exploitation. They focused on the Blockchain Regulatory Certainty Act (BRCA), a provision that would shield developers of decentralized crypto software from criminal prosecution. Critics say that could weaken oversight of illicit activity tied to trafficking, organized crime, child exploitation, and sanctions evasion. The BRCA also faces criticism from law enforcement groups. Separately, the overall Clarity Act is under pressure from Wall Street, Native American tribes, and some Democrats over stablecoin rewards, prediction markets, and Trump-family crypto ventures. Industry leaders say delay past next month could doom the bill this year.
