Senator Elizabeth Warren slams CLARITY Act as a ‘ticket to sanctions evasion’
The post Senator Elizabeth Warren slams CLARITY Act as a ‘ticket to sanctions evasion’ appeared on BitcoinEthereumNews.com. Democratic Senator Elizabeth Warren has maintained her strong opposition to the broader crypto market bill, the CLARITY Act. Amid increasing uncertainty about the bill’s path and the industry’s push for a Senate floor vote, Sen. Warren said, As currently drafted, the CLARITY Act is a ticket to sanctions evasion. She was echoing concerns raised by Richard Nephew, a former special envoy for Iran and director for Iran at the U.S National Security Council (NSC). Nephew called out the Senate for pushing the CLARITY Act with broader exemption for DeFi and weak anti-money laundering (AML) requirements. For him, the recent freezing of over $1B of Iranian crypto by the U.S Treasury would be impossible with DeFi legal exemptions proposed in the bill. He added, The bill would leave parts of the crypto ecosystem vulnerable to exploitation by terrorists, sanctions evaders,