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Crypto

U.S. Treasury warns financial sector after $12.7 billion in suspected crypto fraud transactions

The U.S. Treasury urged financial institutions to strengthen suspicious activity reporting and information sharing to counter crypto investment scams run by overseas fraud groups. Reports linked to such activity cited about $12.7 billion in transactions, making it a key task to trace criminal money flows. FinCEN recommended more precise reporting by banks, credit unions, crypto exchanges and brokerages and introduced a new filing keyword for potential involvement of overseas scam centres.

Crypto

U.S. CLARITY Act revised draft expected this week as ethics provision stalls ahead of Senate vote

The U.S. Senate may release a merged draft of the CLARITY Act, a broad bill to regulate crypto market structure, this week. Work to combine versions prepared by the Senate Banking and Agriculture committees is nearing completion, but negotiations continue over key provisions, including ethics rules and the scope of decentralized finance regulation. A floor vote timeline remains uncertain as lawmakers debate which digital asset intermediaries should face registration, surveillance and anti-money laundering obligations.

Crypto

U.S. CFTC chair urges Congress to pass CLARITY Act

Michael Selig, a commissioner at the U.S. Commodity Futures Trading Commission, urged Congress to quickly pass the CLARITY Act, a crypto market structure bill. He warned that further delays could leave regulators setting rules agency by agency without a comprehensive federal framework. Negotiations in the Senate are in the final stage, with debates continuing over ethics provisions tied to Donald Trump’s family crypto business, DeFi regulation, illicit finance measures and developer protections, including Section 604 and the BRCA.