- United States
- Mich.
- Letter
Reject the Dirty Clarity Act: Protect Main Street over Crypto Monopolies
I am writing as your constituent to strongly urge you to reject H.R. 3633, the Digital Asset Market Clarity Act (CLARITY Act). Despite its misleading name, this bill brings zero transparency to our financial system; instead, it obscures the risks of a notoriously volatile industry.
By dismantling robust SEC oversight established since the Great Depression, this legislation replaces proven investor safeguards with a hands-off regulatory framework designed by and for crypto corporations. Furthermore, it completely overrides critical state-level consumer fraud protections, leaving everyday citizens exposed to predatory schemes with virtually no legal recourse.
Equally alarming are the national security implications. Organizations like the National Sheriffs' Association have warned that Section 604 will severely inhibit law enforcement's ability to track illicit funds and halt money laundering on decentralized platforms. Combined with deeply concerning, unaddressed conflicts of interest involving high-ranking executive officials benefiting directly from crypto ventures, this bill compromises both financial ethics and public safety.
True regulatory clarity should protect hard-working Americans, not insulate crypto entities from accountability. I urge you to vote NO on the CLARITY Act and stand up for consumer protection and national security.