The CLARITY Act, which cleared the House last summer and sailed through the Senate Banking Committee last month on a bipartisan vote, would direct $150 million to law enforcement to track scammers and bad actors across digital asset markets. The money would bolster the Financial Crimes Enforcement Network (FinCEN), the Treasury bureau that tracks suspicious money flows. Americans reported losing $9.3 billion to crypto-related internet crime in 2024, according to FBI data, with victims over 60 bearing the heaviest toll — nearly $5 billion across all online fraud.
What the money would buy
The bill would fund expanded anti-money laundering programs, suspicious activity reports from newly covered exchanges, and blockchain analytics tools. It also creates a pilot program that lets firms share threat data with federal investigators. The idea is to speed up how quickly law enforcement can follow the money trail when a scam is reported.
Bitcoin ATM protections
A specific provision tightens rules on digital asset kiosks. Losses at Bitcoin ATMs topped $65 million in the first half of 2024, and people 60 and older bore roughly 71% of that total. Under the CLARITY Act, ATM providers would gain a safe harbor to pause suspicious transactions at law enforcement's request — a measure designed to stop scams before the cash is gone.
Not everyone is satisfied
Senator Elizabeth Warren, a longtime critic of crypto's role in illicit finance, warned that the framework could still leave gaps. She didn't specify which gaps, but the comment signals that debate on the Senate floor may include attempts to tighten the bill further. The House passed it in July 2025 by a vote of 294 to 134, with Republicans and Democrats both crossing party lines. The Senate Banking Committee advanced it on May 14, 2026, in a 15-9 bipartisan vote.
The full Senate is expected to take up the CLARITY Act later this summer. Given the bipartisan support in committee and the House margin, passage looks likely — though Warren's warning suggests the floor debate won't be quiet.
