Bessent Pushes CLARITY Act to Expand Treasury Powers Against Sanctions Evasion
JH Kim
Summary
- U.S. Treasury Secretary Scott Bessent said he is pushing for passage of the CLARITY Act to strengthen the Treasury Department’s authority to respond to sanctions evasion.
- Bessent said he is advocating for the CLARITY Act because it would give the Treasury Department greater authority to track sanctions-evasion activity.
- Bessent emphasized the need to expand the Treasury Department’s legal authority to track and respond to such evasive activity, but did not specify any additional powers or how broadly they would apply.
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U.S. Treasury Secretary Scott Bessent said he is pushing for passage of the CLARITY Act to strengthen the Treasury Department’s authority to respond to sanctions evasion.
Cointelegraph, a digital-asset news outlet, reported on September 15 that Bessent said the bill would give the Treasury Department greater authority to track such evasive activity.
He said the CLARITY Act is needed to expand the Treasury Department’s legal authority to track and respond to sanctions-evasion activity.
Bessent did not specify what additional powers the department would receive or how broadly they would apply.
JH Kim
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