$150 Million Allocated to Hunt Down Digital Asset Scammers Under CLARITY Act

A new bill, the CLARITY Act, aims to strengthen regulations on digital asset markets by allocating $150 million to law enforcement agencies. US Senator Cynthia Lummis states that this funding would enable them to track down scammers and bad actors more effectively.

The CLARITY Act has already passed the House with a vote of 294-134 in July 2025, and the Senate Banking Committee advanced it in May 2026 by a bipartisan vote of 15-9. The bill now moves to the full Senate for further consideration.

Crypto fraud has reached alarming levels, with Americans reporting losses of $9.3 billion to crypto-related internet crime in 2024, according to FBI data. This figure is particularly concerning as victims over 60 accounted for nearly $5 billion of these losses.