Regulation· ★★★· neutral·

Lummis: Democrats Blocked CLARITY Act That Gave Treasury Power Over Offshore Exchange Money Laundering

  • —Lummis says the CLARITY Act would have empowered Treasury to cut laundering channels via offshore exchanges
  • —Democrats sought those powers but voted the bill down
  • —Binance is cited as an example of an offshore venue
Why it matters: The CLARITY Act's failure leaves offshore crypto exchange oversight to agencies rather than statute.
Source: PANews
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