ChainCatcher reported that according to The Block, U.S. Senator Roger Marshall withdrew his support for Elizabeth Warren's proposed crypto anti-money laundering bill. The move was made against the backdrop of huge pressure from the crypto industry and Donald Trump's support for crypto.
Marshall became the first co-sponsor to withdraw his support this week, although the bill still has the support of 18 other senators. The bill aims to strengthen the US anti-money laundering regulations on digital assets, requiring digital asset service providers, miners and validators to follow stricter customer identification and anti-money laundering responsibilities. The crypto industry strongly opposes the bill, believing that it will have a negative impact on decentralized finance and may hinder industry innovation. The chief policy officer of the Chamber of Digital Commerce said that the bill is actually a "backdoor ban" on blockchain technology.
