U.S. Senate Clarity Act Draft Raises Warnings: Treasury Department Monitoring Power to Expand Significantly

【Blockchain Rhythm】The U.S. Senate is pushing forward a key bill that could fundamentally change the regulatory landscape of the crypto market. According to the latest news, the draft of the “Crypto Market Structure Act” (Clarity Act) currently under review has raised significant concerns within the industry.

The core issue lies here: the draft grants the U.S. Department of the Treasury almost unchecked authority. Moreover, these powers even include provisions to directly freeze transactions without a court order. This is a major move for the entire financial system.

Alex Thorn, Head of Research at Galaxy Digital, offered a thought-provoking comparison — if these measures are truly enacted into law, it would represent the largest expansion of financial surveillance powers since the enactment of the USA PATRIOT Act in 2001. Just imagine what that means.

It is particularly important to note that the draft also extends “special measures” authority to the front end of decentralized finance. The impact on the DeFi ecosystem should not be underestimated.

This regulatory storm may be imminent, and the crypto community and industry practitioners should pay close attention to the follow-up developments.