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