TechFlow news, January 14 — According to Decrypt, Galaxy Research has warned that the draft cryptocurrency market structure bill currently under review by the Senate Banking Committee would significantly expand the U.S. Treasury Department's financial surveillance powers. The draft includes provisions to freeze transactions without a court order and grants expanded "special measures" authority targeting decentralized finance front-ends.
Alex Thorn, Head of Research at Galaxy Digital, stated that if these measures become law, they would "represent the largest single expansion of financial surveillance powers since the U.S. Patriot Act of 2001."
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