The Blockchain Association hosted an online event on June 4, 2026, to rally support for the Digital Asset Market Clarity Act, emphasizing its anti-money laundering provisions. Senator Cynthia Lummis argued the bill would impose stronger Bank Secrecy Act requirements on exchanges than the current status quo. Advocates face a narrow Senate window: fewer than eight weeks of floor time before midterm elections. A letter from 160 former law enforcement officials backing the bill was met with criticism from the Revolving Door Project, which accused the Blockchain Association of misleading senators by including signatories who work for crypto firms. The Project also cited concerns from the National Sheriffs’ Association. White House crypto adviser Patrick Witt urged law enforcement to support the bill, stating it provides real regulatory constraints. Lummis emphasized that the bill targets only developers who publish code with specific intent to facilitate money laundering. The legislation faces opposition from some Democrats and law enforcement groups, but proponents argue it is the most sophisticated regulatory framework ever presented in the U.S.

Key facts

• Senate has less than 8 weeks of floor time before midterm elections.
• Blockchain Association published letter from 160 former law enforcement officials.
• Revolving Door Project accused the group of misleading senators.
• Lummis: bill only targets developers with specific intent to facilitate money laundering.
• White House adviser says bill provides missing regulatory constraints.

KeyAudit data perspective