Cynthia Lummis: Democratic Party vetoes Clarity Act, which empowered Treasury to crack down on money laundering on offshore exchanges

Wyoming Senator Cynthia Lummis stated that the Democratic Party had requested new powers for the Treasury Department to cut off the funding channels for money laundering activities through offshore exchanges such as Binance, and her proposed Clarity Act has already provided relevant authority. Cynthia Lummis stated that the Democratic Party voted against the Clarity Act in the vote, rejecting legislative attempts to strengthen regulation of money laundering on offshore cryptocurrency exchanges.