US Senator Cynthia Lummis says the CLARITY Act would direct $150 million to law enforcement to track scammers and other bad actors across digital asset markets.
The money would bolster the Financial Crimes Enforcement Network (FinCEN), the Treasury bureau that tracks suspicious money flows, as the market structure bill advances through the Senate.
What the Funding Targets
Crypto fraud has reached record levels. Americans reported losing $9.3 billion to crypto-related internet crime in 2024, FBI data show.
Victims over 60 reported the heaviest toll, nearly $5 billion, across all online fraud.
Supporters, including Lummis and the Crypto Council for Innovation, say the bill provides an additional $150 million to FinCEN. That figure appears in advocacy materials rather than the committee’s official fact sheets.
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The money would back expanded anti-money laundering programs, suspicious activity reports from newly covered exchanges, and blockchain analytics tools.
It would also support a pilot that lets firms share threat data with federal investigators.
The bill further tightens rules on digital asset kiosks, a fast-growing fraud channel.
Losses at Bitcoin ATMs topped $65 million in the first half of 2024, and people 60 and older bore about 71% of that total, the FTC reported.
Providers would also gain a safe harbor to pause suspicious transactions at law enforcement’s request.
Readers can review the CLARITY Act explainer for the full framework.
Where the CLARITY Act Stands Now
The House passed the CLARITY Act in July 2025 by a vote of 294 to 134. The Senate Banking Committee then advanced it on May 14 in a 15-9 bipartisan vote.
It now moves to the full Senate, where supporters want action as soon as June. The bill had already survived earlier Senate scheduling delays, and lawmakers have floated a bipartisan follow-up bill.
Critics, including Senator Elizabeth Warren, warn that the framework could still leave gaps for illicit finance.
The $150 million surviving final negotiations may test how hard the bill can be sold as a crypto market structure rulebook when senators take it up.
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