Lummis Says Clarity Act Shuts Financial Gaps Exploited by Lazarus Group, Cites $3.4B in Crypto Thefts

According to Senator Cynthia Lummis on July 26, the Digital Asset Market Clarity Act aims to close financial gaps exploited by North Korea's Lazarus Group for stolen funds. Lummis argues the bill provides Treasury new sanctions authority and legal protection for exchanges that freeze suspicious transactions. Lazarus Group has stolen at least $3.4 billion in crypto since 2007, including $1.5 billion from Bybit in February 2025, the largest crypto heist on record. The Clarity Act includes provisions applying anti-money-laundering rules to crypto firms, sanctions authority targeting Iran, and allowing exchanges to freeze funds tied to suspicious activity if they cooperate with law enforcement.
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