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, the FOP’s National President Patrick Yoes attributed the organization’s new stance to the revision of Section 10604 of the Blockchain Regulatory Certainty Act (BRCA). The latest compilation grants law enforcement agencies authority over crime in the digital asset space.
On the same day, the Blockchain Association, Crypto Council and Digital Chamber collectively urged the Senate to consider the Act. Their letter in part reads:
“This is a crucial opportunity for the Senate to improve upon the status quo by establishing durable rules for digital assets that protect consumers, safeguard markets, and ensure that innovation can thrive in the United States.”
Patrick Witt, the Executive Director for the President’s Council of Advisors for Digital Assets, expressed confidence in the bill’s passage, saying:
“I’m optimistic that we can get the necessary votes.”
Notably, Democrats continue to oppose the CLARITY Act, citing ethical conundrums related to President Trump’s crypto endeavors. Senator Thom Tillis now says the President will soon meet with the Senate to find common ground around these reservations. A specific date was not provided.
On a positive note, Senator Cynthia Lummis recently confirmed that the Act mandates brokerage-grade bankruptcy protection. The legislation would protect investor funds from service providers’ bankruptcy, and guarantee cryptocurrencies as the property of end-users only.
Nonetheless, the odds of the CLARITY Act passing in 2026 remain at lows of 35% and 40.6% on Polymarket and Kalshi, respectively.
Source: Grayscale Investments
The poor sentiment is driven by repeated delays, plus bank and Democratic opposition to certain aspects of the bill. Watch for the President’s upcoming meeting with the Senate and the subsequent floor vote on July 27.
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