US Senator Cynthia Lummis: The rejected Clarity Act had empowered the Treasury Department to combat money laundering at offshore exchanges

Odaily News: Cynthia Lummis posted on X stating that Democrats had previously requested granting the Treasury Department new authority to cut off funding channels for money laundering activities conducted through offshore exchanges such as Binance, and that her proposed Clarity Act already provided the Treasury Department with the relevant authority. She stated that Democrats voted against the bill during the vote, rejecting a legislative attempt to strengthen oversight of money laundering at offshore crypto exchanges.