Senator Lummis Claims Democrats Blocked Clarity Act, Which Would Have Targeted Offshore Exchange Money Laundering

U.S. Senator Cynthia Lummis (Wyoming) stated that Democrats previously sought to grant the Treasury Department new powers to combat money laundering via offshore exchanges like Binance. She noted that her proposed CLARITY Act would have provided these authorities, but Democrats voted against the bill, effectively rejecting the legislative attempt to strengthen oversight of offshore crypto money laundering.