9 US senators publicly back Elizabeth Warren’s crypto bill

Nine United States Senators person added their enactment to Senator Elizabeth Warren’s Digital Asset Anti-Money Laundering Act, according to a connection from Warren’s office. 

The property merchandise connected Warren’s authoritative legislature webpage names Democratic Party Senators Gary Peters, Dick Durbin, Tina Smith, Jeanne Shaheen, Bob Casey, Richard Blumenthal, Michael Bennet and Catherine Cortez Masto, on with autarkic Senator Angus King, arsenic those who joined the bipartisan conjugation supporting the bill. Peters is the seat of the Senate Homeland Security and Governmental Affairs Committee, portion Durbin is the seat of the Senate Judiciary Committee.

Warren herself welcomed the caller measure supporters, stating:

“Our expanding conjugation shows that Congress is acceptable to instrumentality enactment – our bipartisan measure is the toughest connection connected the array cracking down connected crypto’s illicit usage and giving regulators much tools successful their toolbox.”

This measure has besides been endorsed by 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.

Related: Elon Musk, Mark Zuckerberg and Sam Altman speech AI regs successful Washington

Warren reintroduced the Digital Asset Anti-Money Laundering Act on with Senators Joe Manchin, Roger Marshall and Lindsey Graham successful July 2023. In the existent version, the papers intends to ace down connected noncustodial integer wallets, widen Bank Secrecy Act responsibilities, found an Anti-Money Laundering/Combating the Financing of Terrorism compliance introspection and different ineligible measures to combat the illicit usage of integer money.

Warren believes determination is simply a “$50 cardinal crypto taxation gap,” with the Internal Revenue Service and U.S. Treasury risking missing retired connected astir $1.5 cardinal successful taxation gross for the 2024 fiscal twelvemonth if a taxation argumentation update is delayed.

Collect this nonfiction arsenic an NFT to sphere this infinitesimal successful past and amusement your enactment for autarkic journalism successful the crypto space.