Momentum

<p>The Digital Asset Market Clarity Act has secured a $150 million allocation for law enforcement efforts targeting cryptocurrency scams and other digital asset crimes, according to U.S. Senator Cynthia Lummis.</p>
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   <li>Senator Cynthia Lummis said the CLARITY Act includes $150 million to help law enforcement track crypto scammers and other criminal actors.</li>
   <li>The legislation would also allow suspicious crypto transactions to be frozen and place digital asset firms under Bank Secrecy Act compliance requirements.</li>
   <li>Backers of the bill say clearer market rules and stronger enforcement tools are needed to combat fraud while supporting legitimate crypto businesses.</li>
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<p>In a post published on X on June 16, the Wyoming senator said the legislation would provide law enforcement agencies with funding to “track down scammers and bad actors in the digital asset space” as lawmakers continue debating the future of crypto regulation in the United States.</p>
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   <p>The Clarity Act delivers $150 million for law enforcement to track down scammers and bad actors in the digital asset space.</p>— Senator Cynthia Lummis (@SenLummis) <a href="https://x.com/SenLummis/status/2066857320919843119?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">June 16, 2026</a>
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<p>The funding provision forms part of the CLARITY Act, a market structure bill that seeks to establish clearer federal rules for digital assets while strengthening tools available to investigators pursuing crypto-related crimes.</p>
<h2 class="wp-block-heading" id="clarity-act-combines-market-rules-with-enforcement-measures">CLARITY Act combines market rules with enforcement measures</h2>
<p>Alongside defining how digital assets should be regulated, the legislation contains several provisions intended to support criminal investigations and consumer protection efforts.</p>
<p>Under the proposal, cryptocurrency exchanges and stablecoin issuers would receive temporary authority to freeze suspicious transactions for up to 30 days. Law enforcement agencies could request an extension of that hold period to as much as 180 days through a written order.</p>
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<p>Requirements contained in the bill would also bring digital asset businesses under Bank Secrecy Act obligations, requiring firms to maintain Anti-Money Laundering programs and submit Suspicious Activity Reports in a manner similar to traditional financial institutions.</p>
<p>Supporters of the legislation have argued that these measures would make it easier to trace illicit funds while providing agencies with legal mechanisms to respond more quickly to suspected fraud.</p>
<p>At the same time, the CLARITY Act seeks to address long-running disputes between federal regulators over digital asset oversight.&nbsp;</p>
<p>For years, cryptocurrency companies have faced uncertainty as the Securities and Exchange Commission and Commodity Futures Trading Commission have taken differing views on how various tokens should be classified.</p>
<p>Lawmakers backing the bill say the legislation would establish <a href="https://crypto.news/clarity-act-will-end-crypto-regulatory-ambiguity-says-senator-lummis/" rel="noopener noreferrer nofollow">clear distinctions</a> between digital commodities and securities while requiring exchanges to keep customer assets separate from company funds, a safeguard designed to reduce the risk of failures similar to the collapse of FTX.</p>
<h2 class="wp-block-heading" id="congress-weighs-new-anti-crime-initiatives">Congress weighs new anti-crime initiatives</h2>
<p>The law enforcement funding proposal arrives as lawmakers continue discussing additional measures focused on cryptocurrency-related crime.</p>
<p>Earlier this month, Representatives Lance Gooden and Josh Gottheimer <a href="https://crypto.news/congress-proposes-doj-crypto-theft-task-force-a-year-after-ncet-shutdown/" rel="noopener noreferrer nofollow">introduced</a> the Federal Cryptocurrency Theft Enforcement and Coordination Act, which would establish a dedicated cryptocurrency theft task force within the Department of Justice.</p>
<p>According to the proposal, the task force would coordinate investigations involving agencies including the DOJ, FBI, Department of Homeland Security, Homeland Security Investigations, and the Treasury Department’s Financial Crimes Enforcement Network. Responsibilities would include tracing stolen digital assets, improving investigative techniques, supporting victims, and assisting state, local, and international authorities.</p>
<p>Momentum behind the CLARITY Act has continued to build in Congress after the legislation advanced out of the Senate Banking Committee in a 15-9 vote.&nbsp;</p>
<p>With the congressional calendar <a href="https://crypto.news/august-recess-emerges-as-new-target-for-clarity-act-passage/" rel="noopener noreferrer nofollow">tightening ahead</a> of the election season, backers of the bill have argued that the United States needs a clear federal framework that addresses criminal activity while providing regulatory certainty for legitimate digital asset businesses.</p>
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CLARITY Act to set aside $150M for crypto fraud investigations

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