Catholic leaders join opposition to crypto Clarity Act, citing human trafficking concerns
A coalition of 82 Catholic leaders has sent a letter to U.S. Senate leaders opposing the crypto industry's Clarity Act, a market structure bill that would legalize most crypto activity in the U.S. The Catholic leaders warn that a key provision protecting software developers from prosecution could enable the funding of human trafficking, violating Christian beliefs. This adds a new and unexpected constituency to the growing list of opponents that already includes Wall Street leaders, consumer advocates, law enforcement groups, and Native American tribes.
Key quotes
In a letter sent Tuesday to Senate leaders in both parties, a coalition of Catholic leaders and organizations warned that the legislation—which would legalize most crypto activity in the United States—could violate Christian beliefs by enabling the funding of human trafficking.
The crypto industry's long-coveted Clarity Act has attracted plenty of opponents in recent months, among them Wall Street leaders, consumer advocates, law enforcement groups, and Native American tribes.
Now, the market structure bill has attracted the ire of a new and perhaps unexpected constituency: Catholics.
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