**🌟 Coin Center Makes Bold Statement Against Bank Secrecy Act 🌐**
**🚀** Leading crypto research non-profit **Coin Center** is shaking things up with their latest report criticizing the Bank Secrecy Act. They’re not holding back, calling it too “broad” for its own good!
**📄** Their recent report, aptly titled “Broad, Ambiguous or Delegated: Constitutional Infirmities of the Bank Secrecy Act,” questions the effectiveness of this 1970 policy, highlighting its “sweeping powers and expansive terms.”
**💡** Coin Center specifically takes issue with the Act’s definition of a “financial institution,” citing its 425-word, 26-subcategory-heavy description as overly vague. From travel agencies to investment bankers, pawnbrokers to commercial banks, the list of entities covered is vast and varied.
**🔍** Stay tuned as Coin Center continues to push for clearer, more effective regulations in the crypto space! #Cryptocurrency #Regulation #BankSecrecyAct 🚀🔒✨