Galaxy Alert: "Clarity Act" to Significantly Expand U.S. Financial Surveillance Powers

BlockBeats News, January 14th, according to Decrypt, Galaxy Research issued a warning that the Senate Banking Committee is considering the draft of the "Crypto Market Structure Bill" (Clarity Act), which would significantly expand the U.S. Treasury Department's financial surveillance powers. The draft includes provisions to freeze transactions without a court order and to extend "special measures" authority to decentralized finance front ends.

Galaxy Digital's research head, Alex Thorn, stated that if these measures become law, it would represent the "largest single expansion of financial surveillance powers since the USA PATRIOT Act of 2001."