Tag Archives: digital assets

Economic Isolation of the Iranian Regime

By David Arnett

Today, the Trump Administration unleashed Operation Economic Outcast, an unprecedented campaign to sever every remaining economic lifeline sustaining the Islamic Republic of Iran. After President Trump and the overwhelming might of the U.S. military dismantled Iran’s military capabilities and crippled its nuclear program, America is entering the endgame with the single greatest financial offensive ever mounted against an adversary. After the announcement, the White House released the following details.

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Congress Should Reject the CLARITY Act

By Trevor Dorsey, Sr. VP Prosperity Bank

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.

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