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Galaxy Research Warns Clarity Act Could Greatly Expand US Treasury Powers

The proposal could allow the US Treasury Department (government finance authority) to freeze transactions without court orders, echoing surveillance expansions seen after the 2001 Patriot Act.

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Terms & Concepts
  • US Treasury Department: The government agency responsible for managing public revenue, financial policy, and oversight of sanctions and monetary control.
  • Clarity Act: A legislative proposal in the United States aimed at expanding financial regulatory and enforcement powers, including potential cryptocurrency oversight.
  • Patriot Act: A 2001 U.S. law that significantly broadened government surveillance and enforcement powers in response to terrorism threats.