Nearly 100 Catholic leaders oppose Clarity Act over weakened safeguards against illicit finance and trafficking

Nearly 100 Catholic leaders are raising concerns about the Clarity Act, a proposed cryptocurrency bill, arguing that its weakened safeguards could facilitate illicit finance and human trafficking. The opposition comes from the Alliance to End Human Trafficking, backed by Catholic organizations, which fears the bill could undermine efforts to combat financial crimes. This stance highlights a growing tension between financial innovation and the need for robust regulatory frameworks to protect against criminal activities. The Catholic Church's involvement underscores the broader implications of cryptocurrency regulation on social and ethical standards.