A coalition of almost 100 Catholic leaders and organizations is opposing the Clarity Act, a sweeping cryptocurrency bill making its way through Congress. Their main complaint: the legislation would weaken safeguards against money laundering and human trafficking.
The Alliance to End Human Trafficking, backed by Catholic organizations, argues that the bill’s provisions around illicit-finance enforcement are too thin. They say the current version doesn’t do enough to prevent crypto from being used to move dirty money or facilitate trafficking operations.
The Clarity Act aims to create a regulatory framework for digital assets, including rules for stablecoin issuers and crypto exchanges. Supporters say it brings needed clarity to a space that’s been operating in a gray zone for years. But critics — now including a growing religious coalition — say it prioritizes industry growth over consumer protection and anti-crime measures.
This isn’t the first time faith-based groups have weighed in on crypto policy. But the size of this coalition gives it political weight, especially in swing districts where Catholic voters carry influence. Whether it’s enough to slow the bill down is another question entirely.
