Senator Cynthia Lummis is pointing to the recent $6.3 billion Binance theft as evidence for why her CLARITY Act should become law. She says the legislation would let crypto companies freeze questionable transactions immediately when law enforcement makes a request. The bill includes provisions for government information sharing with private firms and protects companies from lawsuits when they temporarily hold assets in good faith. It passed the House in 2025 but failed a Senate vote in September.
CFTC Chair Michael Selig is taking a different approach, arguing the hack shows offshore platforms need voluntary registration with his agency. That would impose U.S. style cybersecurity requirements. Binance froze roughly $3 billion of the stolen funds, and the FBI linked the attack to North Korea.
Read the full story on BSC News: Lummis Cites $6.3 Billion Binance Hack in Renewed Push for CLARITY Act
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