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Gate Square New & Returning Creator Rewards are ongoing!
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Galaxy Warning: The "Clarity Act" Will Significantly Expand U.S. Financial Surveillance Powers
According to Decrypt, Galaxy Research issued a warning that the draft "Crypto Market Structure Act" (Clarity Act) currently under review by the Senate Banking Committee will significantly expand the U.S. Treasury Department's financial surveillance powers.
The draft includes provisions to freeze transactions without a court order and extends "special measures" authority to decentralized finance frontends. Galaxy Digital Research Director Alex Thorn stated that if these measures become law, they will represent the largest single expansion of financial surveillance powers since the USA PATRIOT Act of 2001.