CLARITY Act Criticized for Inadequate Safeguards Against Crypto Crime

As a prosecutor, Eli Savit emphasizes that laws should apply equally to everyone, regardless of their position or influence. He believes the CLARITY Act, which aims to regulate digital assets like cryptocurrency, still falls short on public-safety and accountability safeguards.

The current proposal is expected to return for further Senate consideration after the August recess. Savit argues that clear rules for digital assets are necessary for innovation and public safety to coexist.

He warns that regulatory clarity for the cryptocurrency industry cannot come at the expense of investigators and prosecutors responsible for protecting communities.