**News Flash: Senator Marshall Withdraws Support for Anti-Crypto Bill**

Republican Senator Roger Marshall has pulled his backing from the Digital Asset Anti-Money Laundering Act (DAAMLA), a contentious bill he co-authored with Democrat Senator Elizabeth Warren. Marshall's withdrawal on July 24 leaves 18 senators still supporting the legislation, which aims to regulate the crypto industry under existing Anti-Money Laundering and counter-terrorism financing laws.

The bill, reintroduced by Warren in July 2023, seeks to classify various crypto service providers as financial institutions, subjecting them to the Bank Secrecy Act. Critics argue it exaggerates crypto's role in illicit activities and could stifle the US crypto industry.

Crypto advocacy groups and former national security officials have voiced strong opposition, warning it could drive the industry overseas and harm American investors. Warren, running for reelection in 2024, faces opposition from pro-crypto lawyer John Deaton.