The Fraternal Order of Police, representing over 382,000 law enforcement members, announced its support for the latest version of H.R. 3633, the “Digital Asset Market Clarity Act.” The endorsement comes as Bitcoin dipped below $64,000 in today’s trading session.
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Police Support Strengthens CLARITY Act Prospects
The FOP’s backing is an important development for the legislation. Patrick Yoes, National President of the Fraternal Order of Police, wrote to Senate Banking Committee leadership confirming the group’s support. The letter specifically addressed concerns about the Blockchain Regulatory Certainty Act language in the bill.
Revised Section 10604 maintains law enforcement’s ability to investigate digital asset crimes while updating the treatment of these assets under Bank Secrecy Act authorities. The FOP noted that the changes preserve liability for individuals who knowingly transfer funds from criminal activity.
🚨NEWS: The National Fraternal Order of Police, one of the key law enforcement groups involved in negotiations over the Blockchain Regulatory Certainty Act, is now backing the latest version of the Clarity Act, saying revised BRCA language addresses its previous concerns and… pic.twitter.com/a0LWPk9u0H
— Eleanor Terrett (@EleanorTerrett) July 24, 2026
The bill now includes ethics restrictions limiting federal officials from using or issuing digital assets. However, Senate leadership indicates the legislation may miss the pre-summer recess window. An updated draft circulated on July 23, but timing concerns could delay the vote.
Why Crypto Market Is Down Today
Bitcoin’s drop below $64K shows the broader market dynamics rather than crypto-specific events. Rising U.S. bond yields and increased odds of future Federal Reserve rate hikes are pressuring risk assets across the board.
Investors are rotating capital into safer yield-bearing instruments as Treasury yields climb. This macro-driven shift is affecting the entire cryptocurrency market, with major altcoins following Bitcoin’s downward movement.
The selloff appears tied to risk-off sentiment rather than any isolated incident within the digital asset space. Market observers are watching the $64K level as a key sentiment marker for trading activity. When rates look more attractive, money often flows out of riskier positions, amplifying downside pressure on large-cap tokens.
Read also: Gold Price Prediction: Analyst Who Called This Week’s Sell-Off Now Says This Is Next
Other Crypto News Today
The CLARITY Act remains central to U.S. crypto regulatory discussions. The FOP’s letter to Senate Banking Committee leadership confirmed that revised Section 10604 addresses previous law enforcement concerns.
The bill now includes ethics restrictions limiting federal officials from using or issuing digital assets. However, Senate leadership indicates the legislation may miss the pre-summer recess window. An updated draft circulated on July 23, but timing concerns could delay the vote.
In other developments, Binance Research reported that Gen Z users dominate the exchange’s stablecoin-based stock trading products. This generation accounts for 44% of users on Binance Direct Stocks and bStocks, along with about 45% of TradFi perpetual users.
Gen Z traders have generated approximately $80 billion in TradFi volume year-to-date, with monthly volume compounding at around 24%. More than 90% of TradFi users across all generations are based in emerging markets.
The European Union added HTX (formerly Huobi) to its latest sanctions package over alleged Russia sanctions evasion. Officials claim the exchange helped facilitate financial activity connected to Russia’s wartime economy.
BitMEX, the crypto derivatives exchange that pioneered the 100x leverage perpetual swap, announced it will shut down operations on September 23, 2026. Parent company HDR Global Trading Limited made the decision following a “strategic review of the business and the broader crypto industry.”
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