Committee-Approved Crypto Bill Leaves Dangerous Loopholes for Corrupt and Other Dirty Money
Approved by the Senate Banking Committee, the bill fails to fully address anti-money laundering, sanctions evasion, offshore platform, and DeFi-related gaps that criminals, corrupt foreign officials, and hostile foreign actors can exploit
A statement from Transparency International U.S.
May 14, 2026
WASHINGTON, D.C.— Today the Senate Banking Committee advanced cryptocurrency market structure legislation known as the Digital Asset Market Clarity Act of 2025, despite continued warnings from law enforcement groups, anti-scam organizations, national security leaders, anticorruption advocates, consumer protection organizations, and other stakeholders that the bill leaves major anti-money laundering and sanctions loopholes unresolved.
If approved by Congress and signed into law, the legislation would establish a broad regulatory framework for digital asset markets, including rules governing digital asset intermediaries and the allocation of regulatory authority over certain digital assets and trading activity.
Scott Greytak, Deputy Executive Director for Transparency International U.S. (TI US), issued the following statement:
Today’s Committee vote should not obscure the fact that this legislation leaves serious illicit finance gaps. While the revised bill included some positive steps, it still does not ensure that offshore platforms, decentralized finance systems, and other high-risk actors are subject to clear and comprehensive anti-money laundering and sanctions obligations.
Congress must not create a new financial architecture that criminals, sanctions evaders, ransomware crews, corrupt foreign officials, terrorist financiers, drug traffickers, and hostile foreign actors can exploit to move money outside basic anti-money laundering safeguards.
The question is not whether digital asset markets should have rules; it is whether those rules are strong enough to protect consumers and the U.S. financial system and provide critical support law enforcement.
The remaining gaps are not theoretical. Criminal organizations actively look for weak points in the global financial system, including opaque blockchain-based services, offshore platforms, and structures designed to evade accountability. Congress must address those concerns before advancing any final cryptocurrency market structure bill through the full Senate.
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Transparency International U.S. is part of the world’s largest coalition against corruption. In collaboration with national chapters in more than 100 countries, we are leading the fight to turn our vision of a world free from corruption into reality.
Related Resources
- Read a letter from a coalition of organizations committed to combating foreign corruption and kleptocracy urging lawmakers to address illicit finance gaps in cryptocurrency market structure legislation.
Media Contact
Victoria Brusa, Communications and Media Affairs, Transparency International U.S.
Telephone: +1 771 250-8065 / +54 9 3492 652098 (WhatsApp)
Email: vbrusa@us.transparency.org
Twitter: @TransparencyUSA
