Elizabeth Warren's Digital Asset Anti-Money Laundering Act Gets Nine New Sponsors - Decrypt


18 Sep 2023 10:53 AM

Warren's controversial Digital Asset Anti-Money Laundering Act has received support from nine more U.S. senators....

  • U.S. Senator Elizabeth Warren has gained support from nine other senators for her Digital Asset Anti-Money Laundering Act.
  • The bill aims to address the perceived risks associated with cryptocurrencies and close regulatory loopholes.
  • If passed, the bill would subject cryptocurrency firms to Know Your Customer (KYC) and Anti-Money Laundering (AML) requirements.
  • Non-custodial wallets would be targeted, and banks and money service businesses would be required to verify customer identities and file reports.
  • Warren has been critical of cryptocurrencies, linking them to illicit activities.

The sentiment of the article is negative towards cryptocurrencies, highlighting their perceived risks and association with illicit activities.

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You May Ask

What is the purpose of Senator Warren's Digital Asset Anti-Money Laundering Act?Which senators have joined the coalition supporting the bill?What would be the impact of the bill on cryptocurrency firms?What are non-custodial wallets, and why are they being targeted?Why has Senator Warren been critical of cryptocurrencies?

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