CLARITY Act failure leaves full AML rules intact for US crypto firms
- —Senate rejected cloture on the CLARITY Act 49-50, 11 votes short of the 60 needed
- —Bank Secrecy Act duties for covered US crypto firms remain unchanged
- —Sponsor banks expect connected identity, wallet and transaction controls
- —Self-custodial wallet checks can stay off-chain, with no personal data on public ledgers
Why it matters: Regulatory uncertainty persists, but compliance burdens on US crypto firms will not ease — a key factor for exchanges and custodians.
Source: crypto.news