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Tell Your Senators to Vote NO on the CLARITY Act!
In May we sent you an alert about the CLARITY Act, which would gut consumer and financial protections on the use of crypto nationwide. Now the bill is facing a critical week, which will determine whether CLARITY is brought to a vote and passes, or is delayed and possibly defeated.
We have a real chance, against huge odds, that the crypto industry’s deregulatory agenda can be blocked this year. But we need Senator VanHollen to continue to lead the fight against this terrible legislation, and Senator Alsobrooks to stand strong against industry pressure.
If the CLARITY Act passes, the industry’s predatory business model could be locked in for a generation. This bill is fatally flawed, and here are some of the most egregious issues with the bill:
- The bill contains weak or nonexistent consumer protections, laughable ethics provisions, and lax oversight.
- It will be more difficult for individuals to recoup losses, hold bad actors accountable, or chase down fraud in ransomware and romance scams.
- There are loopholes that would undermine protections that safeguard everyone with a bank account.
- It will prohibit states like Maryland from imposing our own laws and regulations to establish guardrails around cryptocurrency.
Outcry from advocates like you have slowed the bill’s progress. Lawmakers must decide whether they will stand up for ordinary people, financial stability and democratic integrity, or enable corruption and financial predation.
Take action: call your Senators’ offices and urge them to oppose the CLARITY Act, and to filibuster the bill if it comes up for a vote:
- Senator Chris Van Hollen 202- 224-4654
- Senator Angela Alsobrooks 202-224-4524
Sample phone script: “Good morning. I am a Maryland resident living in (provide county or zipcode). I am calling to urge Senator Van Hollen/Alsobrooks to oppose the Clarity Act. This legislation undermines consumer and banking protections.Is the Senator committed to opposing this legislation, and to fillibustering the bill if it comes to a vote on the floor?”
After you have called, follow up with a quick email!
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