New US Bill Aims to Close Crypto’s AML Regulation Gaps 12 December 2023
A group of US senators led by crypto-skeptic Elizabeth Warren introduced legislation aiming to restrict money laundering in cryptocurrency by extending stringent KYC and transaction monitoring rules across the whole digital asset sector.
By roping in previously unregulated players like miners and forcing heightened compliance on DeFi protocols, the bill threatens increased centralization under the banner of financial integrity protections.