New Crypto Law Has 5 Big Security Holes Congress Must Fix

A major new law that would set rules for cryptocurrency (digital money like Bitcoin) in America has some serious problems that need fixing before it becomes official.

The Digital Asset Market Clarity Act recently passed its first major test in the Senate. While most people agree the crypto industry needs clear rules, an expert has spotted five dangerous gaps in the proposed law:

• The DeFi loophole: Some crypto platforms call themselves "decentralized" (meaning no single company controls them) to avoid following rules. North Korean hackers have used these platforms to steal and hide over $600 million.

• The Tornado Cash problem: Some crypto tools are designed to keep running automatically, even when criminals use them for money laundering (hiding illegal money). Iran's military has already built shadow banking networks using these tools.

• Missing stablecoin rules: The article mentions concerns about stablecoins (cryptocurrencies designed to maintain steady value) but the text was cut off.

• Two other unnamed gaps: The article promises five gaps total but only details three in the available text.

Why this matters: Without fixing these holes, the new law could actually make it easier for criminals, terrorists, and enemy nations to use crypto for illegal activities. The law aims to bring order to the crypto world, but these gaps could undermine that goal entirely.

Congress still has time to fix these problems before the final vote, but crypto security experts are urging lawmakers to act quickly.

This is an AI-generated summary. Read the original article at: https://www.coindesk.com/opinion/2026/06/09/5-corruption-gaps-congress-must-close-in-the-clarity-act