Galaxy says Senate crypto bill risks expanding Treasury surveillance authority
NegativeCryptocurrency
- Galaxy has expressed concerns that a draft cryptocurrency market structure bill in the Senate could expand the US Treasury's surveillance authority, allowing it to freeze transactions and implement measures similar to those in the Patriot Act.
- This development is significant for Galaxy as it highlights the potential regulatory challenges facing the cryptocurrency industry, which could impact its operations and the broader market environment.
- The ongoing discussions around regulation, including the SEC's examination of tokenization rules and the expansion of firms like Galaxy into new markets, underscore a critical juncture for the cryptocurrency sector, balancing innovation with compliance.
— via World Pulse Now AI Editorial System