Galaxy Research warns that the draft of the Crypto Market Structure Act circulating in the Senate Banking Committee could significantly expand the scope of U.S. financial surveillance, with regulatory oversight of DeFi comparable to the largest expansion of monitoring since the 2001 Patriot Act. Galaxy points out that the draft proposes to grant the U.S. Treasury broader "special measures" authority, including the ability to temporarily freeze digital asset transactions without a court order and to clarify sanctions and anti-money laundering obligations for DeFi frontends. (Decrypt)