English < Article List - DigitalToday

Search results for Patriot Act

Crypto

U.S. CLARITY Act controversy grows, industry fears expanded financial surveillance

As debate resumes in the U.S. Congress over the digital asset market structure bill known as the CLARITY Act, concerns are growing inside and outside the crypto industry about expanded financial surveillance. Galaxy Digital research head Alex Thorn warned the current language could widen oversight powers, including for the Treasury’s OFAC. Critics including Cardano founder Charles Hoskinson say the wording is too broad and could be abused.

Crypto

Galaxy Digital warns crypto market structure bill expands Treasury financial surveillance powers

Galaxy Digital warned that a crypto market structure bill released by the U.S. Senate Banking Committee would give the Treasury sweeping surveillance and enforcement authority, Cointelegraph reported on Jan. 14. The firm said it could be the biggest expansion of financial surveillance since the Patriot Act. Galaxy said the bill goes beyond the House-passed CLARITY Act, allowing the Treasury to target jurisdictions, institutions or crypto transactions over money-laundering concerns and include temporary holds of up to 30 days.