The Fraternal Order of Police (FOP), representing more than 382,000 law enforcement members, has officially endorsed the latest version of H.R. 3633, the "Digital Asset Market Clarity Act." The announcement coincided with Bitcoin falling below $64,000 during today's trading session.

Fraternal Order of Police Backs Revised CLARITY Act

The CLARITY Act aims to establish a clear regulatory framework that would divide oversight of digital assets between the Securities and Exchange Commission and the Commodity Futures Trading Commission, addressing a long-standing jurisdictional ambiguity that market participants have cited as a barrier to institutional adoption.

Patrick Yoes, National President of the FOP, sent a letter to Senate Banking Committee leadership confirming the organization's support. The communication specifically addressed earlier concerns regarding the Blockchain Regulatory Certainty Act (BRCA) language embedded in the bill.

Under the revised Section 10604, law enforcement's authority to investigate digital asset crimes remains intact while the treatment of these assets under Bank Secrecy Act frameworks has been updated. The FOP highlighted that the revised language preserves liability for individuals who knowingly transfer funds derived 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 also introduces ethics restrictions that would limit federal officials from using or issuing digital assets. However, Senate leadership has indicated that the legislation may not reach a vote before the pre-summer recess. An updated draft was circulated on July 23, but scheduling concerns could push deliberations further.

Macro Pressures Weigh on Crypto Markets

Bitcoin's decline below $64,000 reflects broader macroeconomic dynamics rather than crypto-specific catalysts. Rising U.S. Treasury yields and growing expectations of potential Federal Reserve rate hikes are pressuring risk assets across financial markets.

As bond yields climb, investors have been rotating capital into safer yield-bearing instruments. This shift has reverberated across the cryptocurrency market, with major altcoins tracking Bitcoin's downward trajectory. Spot Bitcoin ETFs recorded approximately $225 million in net outflows, ending a recent streak of inflows.

Market participants are monitoring the $64,000 threshold as a key sentiment indicator. Profit-taking following recent gains has compounded selling pressure alongside the broader risk-off environment.

Binance Research: Gen Z Dominates TradFi Products

Binance Research reported that Generation Z users account for 44% of participants on Binance Direct Stocks and bStocks, the exchange's stablecoin-based stock trading offerings. The same demographic represents roughly 45% of users on TradFi perpetual products. The findings highlight how younger users, particularly in regions with limited access to conventional brokerages, are increasingly bridging traditional financial markets and crypto infrastructure.

Gen Z traders have generated approximately $80 billion in TradFi volume year-to-date, with monthly volume compounding at an estimated 24%. More than 90% of TradFi users across all age cohorts are located in emerging markets.

EU Sanctions HTX Over Alleged Russia Evasion

The European Union included HTX, formerly known as Huobi and once among the world's largest cryptocurrency exchanges by trading volume, in its latest sanctions package. Officials allege the exchange facilitated financial activity connected to Russia's wartime economy, constituting sanctions evasion.

BitMEX to Cease Operations

BitMEX, the derivatives exchange that introduced the 100x leverage perpetual swap, announced it will shut down on September 23, 2026, after more than 11 years of operation. The perpetual swap model BitMEX pioneered has since become an industry standard adopted by virtually every major crypto derivatives platform. Parent company HDR Global Trading Limited stated the decision followed "a strategic review of the business and the broader crypto industry." Reports have cited declining market share, an unsuccessful sale process, and broader operational challenges as contributing factors.