Senator Lummis Unveils Clarity Act to Regulate Crypto Exchanges and DeFi Platforms

U.S. Senator Cynthia Lummis has introduced the Clarity Act to regulate crypto exchanges, DeFi platforms, and crypto ATMs.

The legislation aims to close the DINO loophole by ensuring these entities comply with the Bank Secrecy Act and relevant sanctions frameworks.

This move comes as part of broader efforts to enhance transparency and accountability within the crypto ecosystem.

By integrating these platforms into the existing legal framework, the Clarity Act seeks to mitigate risks associated with money laundering and other illicit activities.