According to a report by Decrypt, Galaxy Research has warned that the draft "Clarity Act," currently being considered by the Senate Banking Committee, would significantly expand the U.S. Treasury's financial surveillance powers. The draft includes provisions to freeze transactions without a court order and expanded "special measures" authority for decentralized finance (DeFi) front-ends. Alex Thorn, head of research at Galaxy Digital, stated that if these measures become law, it would "represent the largest single expansion of financial surveillance powers since the Patriot Act of 2001."
Galaxy Warns: The Clarity Act Will Significantly Expand US Financial Surveillance Powers
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