Bipartisan bill targets crypto money laundering in wake of FTX collapse

Dec 14 2022 by Engadget

US Senators Elizabeth Warren and Roger Marshall have introduced a bipartisan bill designed to crack down on illegal uses of cryptocurrency. If passed, The Digital Asset Anti-Money Laundering Act would extend aspects of the Bank Secrecy Act (BSA), a Nixon-era law Congress passed to combat money laundering, to cover crypto entities such as wallet providers and miners. Specifically, the new legislation would apply so-called “Know-Your-Customer” rules to those entities by directing the...

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