Galaxy warns Senate crypto bill gives US Treasury massive surveillance power — TradingView News
Galaxy Digital has warned that a draft crypto market structure bill released by the US Senate Banking Committee would hand the Treasury Department sweeping new surveillance and enforcement tools, describing it as the largest expansion of financial oversight authority since the US Patriot Act.
In a research note published Tuesday, Galaxy said the Senate proposal goes far beyond the House-passed CLARITY Act, particularly on illicit finance provisions. At the center of Galaxy’s warning is a new crypto-specific “special measures” authority.
The authority would allow the Treasury to designate foreign jurisdictions, financial institutions or entire classes of digital asset transactions as primary money-laundering concerns, giving it the…
