Galaxy Compares Crypto Bill DeFi Rules to Patriot Act Powers

• Galaxy Digital warns Senate crypto bill grants Treasury expanded surveillance powers.
• Legislation allows transaction pauses without court orders upon police requests.
• Senate Banking Committee schedules markup for January 15 with bipartisan debate.

Galaxy Digital Research has issued an alert regarding proposed Senate cryptocurrency legislation, characterizing Treasury Department surveillance provisions as comparable to the USA PATRIOT Act of 2001. Alex Thorn, head of company-wide research at Galaxy Digital, stated the draft under Senate Banking Committee review would constitute “the single largest expansion of financial surveillance powers since the USA PATRIOT Act.”

The analysis has generated discussion among lawmakers, industry participants, and regulatory advocates as legislative negotiations continue over the market structure bill. The research identifies three …

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