Bank Policy Institute Backs Bill for Transparent Digital Assets to Fight Money Laundering
Bank Policy Institute backs Senator Warren's "Digital Asset Anti-Money Laundering Act of 2023" to enhance crypto transaction transparency, combat money laundering, and terrorism financing.
The bill mandates identity record-keeping for wallet providers and validators and bans the use of blockchain data-hiding mixers.
Multiple organizations including the Massachusetts Bankers Association and AARP, support the bill. However, Tyler Winklevoss criticized it. Warren reiterated her commitment to the bill during a Senate hearing, countering arguments for a DeFi loophole exempt from #AML regulations. She initially introduced the bill in 2022, advocating equal regulations for crypto and traditional financial institutions.
