Coinbase: Clarity Act will strengthen encryption and national security protection

The Chief Policy Officer of Coinbase, Faryar Shirzad, wrote in X on 11 July in response to US Senator Elizabeth Warren’s criticism of Clarity Act that the bill would not undermine national security, but rather would bring the digital assets platform under stronger regulation. Elizabeth Warren had previously indicated on 8 July that the current draft of the CIATY Act might provide an opportunity to circumvent sanctions. Faryar Shirzad stated that the bill would require the encryption platform to comply with stricter national security standards and allow it to freeze suspicious transactions when requested by law enforcement authorities. Senator Cynthia Lummis of the United States had previously stated that CLARITY Act contained 16 illegal financial protections and warned that the bill might be the last major opportunity for the United States Congress to adopt a comprehensive digital asset rule by 2030. (Bitcoin.com News)。