{"id":72507,"date":"2026-05-14T13:47:39","date_gmt":"2026-05-14T13:47:39","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/aarp-backs-clarity-act-ahead-of-senate-banking-markup\/"},"modified":"2026-05-14T13:47:39","modified_gmt":"2026-05-14T13:47:39","slug":"aarp-backs-clarity-act-ahead-of-senate-banking-markup","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/aarp-backs-clarity-act-ahead-of-senate-banking-markup\/","title":{"rendered":"AARP Backs CLARITY Act Ahead of Senate Banking Markup"},"content":{"rendered":"<p><b>(Originally posted on : Bitcoin News )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"@container mb-[25px] rounded-sm overflow-clip py-0.5 pr-0.5 pl-2.5 bg-success-100\">\n<div class=\"flex flex-col gap-m overflow-clip rounded-[6px] !bg-success-10 p-3 @[420px]:p-m\">\n<h2 class=\"m-0 flex items-center gap-s text-[19px] !text-[#1c1c1c] md:text-[20px]\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"10\" viewbox=\"0 0 16 10\" fill=\"none\" class=\"shrink-0 text-success-100\" aria-hidden=\"true\"><path d=\"M1 1.5h14\" stroke=\"currentColor\" stroke-width=\"2.5\" stroke-linecap=\"round\"\/><path d=\"M1 8.5h10\" stroke=\"currentColor\" stroke-width=\"2.5\" stroke-linecap=\"round\"\/><\/svg><span>Key Takeaways<\/span><\/h2>\n<ul class=\"m-0 flex list-none flex-col gap-m pl-0\">\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">AARP supported Section 205 because cryptocurrency kiosks are linked to fraud against older Americans.<\/span><\/li>\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">Losses cited by the group exceeded $389 million across more than 13,460 complaints.<\/span><\/li>\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">Lawmakers may weigh federal registration rules while preserving state authority over kiosk safeguards.<\/span><\/li>\n<\/ul>\n<\/div>\n<\/div>\n<h2>AARP Backs Section 205 Ahead of CLARITY Act Markup<\/h2>\n<p>AARP, the nation\u2019s largest nonprofit, nonpartisan organization that advocates for 125 million Americans age 50 and older, expressed strong support for provisions in the CLARITY Act market structure legislation released ahead of the Senate Banking Committee\u2019s May 14 markup. The group urged lawmakers to preserve Section 205, which would require <span>cryptocurrency<\/span> kiosk operators to register with the Treasury Department as money transmitters while protecting state power to regulate the machines.<\/p>\n<p>In a <a href=\"https:\/\/www.aarp.org\/content\/dam\/aarp\/politics\/advocacy\/2026\/05\/aarp-letter-clarity-act-section-205-2026-05-13.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">letter<\/a> dated May 13 from Bill Sweeney, AARP\u2019s senior vice president of government affairs, to Chairman Tim Scott and Ranking Member Elizabeth Warren, the group described Section 205 as a critical safeguard against <span>cryptocurrency<\/span> kiosk fraud targeting older Americans. The letter urged lawmakers to preserve both the Treasury registration requirement and the provision protecting state regulatory authority as the bill advances through markup and beyond. AARP described <span>cryptocurrency<\/span> kiosks as one of the fastest-growing fraud vectors affecting older Americans. The organization also thanked the committee for incorporating the language into the legislation released before the markup.<\/p>\n<p>AARP wrote:<\/p>\n<blockquote>\n<p>\u201cWe write to express our strong support for provisions in the market structure legislation released ahead of the Committee\u2019s markup.\u201d<\/p>\n<\/blockquote>\n<p> <span>Cryptocurrency<\/span> kiosks now operate in supermarkets, convenience stores, <a href=\"http:\/\/www.bitcoin.com\/get-started\/what-is-gas\/\" class=\"lar_link lar_link_outgoing\" target=\"_blank\" rel=\"noopener noreferrer\">gas<\/a> stations, bars, and restaurants nationwide. Scammers impersonating government officials, tech support representatives, or businesses persuade victims to withdraw cash and deposit the money into a kiosk. The transferred funds then move directly into digital wallets controlled by criminals, making recovery nearly impossible after completion. Federal Bureau of Investigation (FBI) data cited in the letter showed more than 13,460 complaints involving <a href=\"http:\/\/www.bitcoin.com\/get-started\/a-quick-introduction-to-crypto\/\" class=\"lar_link lar_link_outgoing\" target=\"_blank\" rel=\"noopener noreferrer\">cryptocurrency<\/a> kiosks during 2025, with reported losses exceeding $389 million.<\/p>\n<h2>State Authority Remains Central to AARP\u2019s Position<\/h2>\n<p>AARP highlighted state enforcement as a major reason for preserving Section 205. The group pointed to 29 states that enacted <a href=\"http:\/\/www.bitcoin.com\/get-started\/a-quick-introduction-to-crypto\/\" class=\"lar_link lar_link_outgoing\" target=\"_blank\" rel=\"noopener noreferrer\">cryptocurrency<\/a> kiosk protections, including 12 during 2026. Indiana, Tennessee, and Minnesota adopted full bans, while six additional states and Washington, D.C., issued specific regulatory guidance covering the machines.<\/p>\n<p>\u201cWe agree with AARP: Congress should protect consumers from scams while giving law enforcement stronger tools to act,\u201d <a href=\"http:\/\/www.bitcoin.com\/get-started\/what-is-a-blockchain\/\" class=\"lar_link lar_link_outgoing\" target=\"_blank\" rel=\"noopener noreferrer\">Blockchain<\/a> Association stated on X ahead of the markup. \u201cClaims that the Clarity Act does not do enough to address fraud are unfounded,\u201d the group added, describing AARP as \u201cone of the country\u2019s leading consumer advocacy organizations\u201d that is \u201cactively supporting provisions in the bill designed to combat scams and protect vulnerable Americans.\u201d<\/p>\n<p>Noting that \u201colder Americans cannot afford to see this provision weakened as the legislation advances,\u201d AARP stated:<\/p>\n<blockquote>\n<p>\u201cAs the bill moves through markup and beyond, our single, central ask is straightforward: please preserve the Section 205 language as written, including both the money transmitter registration requirement and the rule of construction protecting state authority.\u201d<\/p>\n<\/blockquote>\n<p>The letter gave senators another outside voice supporting Section 205 before formal consideration during the May 14 markup. AARP\u2019s request centered specifically on maintaining the current Section 205 language without weakening either the registration mandate or the protections for state regulatory authority.<\/p>\n<\/p><\/div>\n<p><a href=\"https:\/\/news.bitcoin.com\/aarp-backs-clarity-act-ahead-of-senate-banking-markup\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : Bitcoin News ) Key Takeaways AARP supported Section 205 because cryptocurrency kiosks are linked to fraud against older Americans. Losses cited by the group exceeded $389 million across more than 13,460 complaints. Lawmakers may weigh federal registration rules while preserving state authority over kiosk safeguards. AARP Backs Section 205 Ahead of [&hellip;]<\/p>\n","protected":false},"author":11,"featured_media":72508,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[32],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/72507"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=72507"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/72507\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/72508"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=72507"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=72507"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=72507"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}