America’s strength is more than our military power. It depends on economic leadership, energy security, strong law enforcement, and the ability to cut off hostile regimes from exploiting our systems to undermine our country.
That is why Congress should reject the CLARITY Act in its current form.
By creating broad exemptions and carve-outs for crypto special interests, the legislation would interfere with law enforcement and national security officials’ ability to identify who is moving money, where it is going, and whether it is tied to sanctioned actors. Without strong Know-Your- Customer (KYC) and Anti-Money-Laundering (AML) standards, bad actors in Iran and North Korea can use crypto to fund terrorism, launder money for criminal activity, and undermine our critical defense tools.
The danger is not theoretical.
