US Senators Back Elizabeth Warren Crypto Bill

!!WARREN

According to a statement from Warren's office, nine United States Senators have extended their support to Senator Elizabeth Warren's Digital Asset Anti-Money Laundering Act.

The bill is supported by Democratic Senators Gary Peters, Dick Durbin, Tina Smith, Jeanne Shaheen, Bob Casey, Richard Blumenthal, Michael Bennet, and Catherine Cortez Masto, as well as independent Senator Angus King, according to a press release on Warren's official Senate webpage. The Senate Homeland Security and Governmental Affairs Committee is chaired by Peters, and the Senate Judiciary Committee is chaired by Durbin.

Warren herself welcomed the new supporters of the bill, saying:

“Our expanding coalition shows that Congress is ready to take action – our bipartisan bill is the toughest proposal on the table cracking down on crypto’s illicit use and giving regulators more tools in their toolbox.”

Transparency International U.S., Global Financial Integrity, the National District Attorneys Association, the Major County Sheriffs of America, the National Consumer Law Center, and the National Consumers League have all sponsored this bill.

In July 2023, Warren, along with Senators Joe Manchin, Roger Marshall, and Lindsey Graham, reintroduced the Digital Asset Anti-Money Laundering Act.

The document's current version proposes to crack down on noncustodial digital wallets, extend Bank Secrecy Act duties, establish an Anti-Money Laundering/Combating the Financing of Terrorism compliance assessment, and implement additional legislative steps to combat the unlawful usage of digital money.

Sources:

https://cointelegraph.com/news/crypto-bill-us-nine-senators-back-elisabeth-warren

https://www.warren.senate.gov/newsroom/press-releases/warren-marshall-manchin-graham-expand-coalition-for-bipartisan-bill-cracking-down-on-cryptos-use-in-money-laundering-drug-trafficking-sanctions-evasion

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