TLDR Warren said the CLARITY Act could weaken crypto illicit finance controls. Lummis said the CLARITY Act has more than 16 illicit finance safeguards. Section 201 applies BSA and AML rules to digital commodity firms. […]
TLDR Senator Cynthia Lummis urged lawmakers to move the CLARITY Act to a full Senate vote. The Senate Banking Committee advanced the bill with a 15-9 bipartisan vote. The CLARITY Act outlines federal oversight roles […]
TLDR Senate Republicans led by Sen. Cynthia Lummis urged regulators to clarify capital standards for digital assets. The lawmakers criticized the Basel Committee’s 1,250% risk weight on certain digital assets. They asked the Federal Reserve, […]
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