Coinbase Chief Policy Officer Faryar Shirzad said on July 11 that the CLARITY Act would place digital asset platforms under stronger regulation rather than weaken U.S. national security, pushing back on criticism from Senator Elizabeth Warren. Warren had said on July 8 that the bill’s current draft could create openings for sanctions evasion. Shirzad argued that the proposal would require crypto platforms to meet stricter national security standards and would let platforms freeze suspicious transactions when requested by law enforcement. Senator Cynthia Lummis has also said the CLARITY Act includes 16 safeguards against illicit finance. She added that the bill could represent Congress’s last major chance to pass a comprehensive digital asset framework before 2030. The remarks were cited by Bitcoin.com News.
Coinbase Chief Policy Officer Faryar Shirzad said on July 11 that the CLARITY Act would subject digital asset platforms to stronger regulation, rejecting criticism from U.S. Senator Elizabeth Warren.
In a post on X, Shirzad said the bill would not weaken national security. Instead, he said, it would bring digital asset platforms under tighter oversight.
Warren had said on July 8 that the current draft of the CLARITY Act could create opportunities for sanctions evasion.
Shirzad responded that the legislation would require crypto platforms to follow stricter national security standards and would allow platforms to freeze suspicious transactions when requested by law enforcement.
U.S. Senator Cynthia Lummis had also said the CLARITY Act includes 16 safeguards against illicit finance. She warned that the bill may be Congress’s last major opportunity to pass comprehensive digital asset rules before 2030.
The report was cited by Bitcoin.com News.
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