Senator Warren and Multiple Officials Reintroduce Proposed "Digital Asset Anti-Money Laundering Act of 2023"
On July 29, TuoniaoX.com reported that the Bank Policy Institute (BPI), a U.S. banking advocacy organization, supports legislation by crypto critic Senator Elizabeth Warren calling for digital assets to be subject to their own set of anti-money laundering (AML) laws. Elizabeth Warren reintroduced the proposed "Digital Asset Anti-Money Laundering Act of 2023" on July 28 alongside multiple officials. BPI supports the bill, which requires increased transparency in digital asset transactions to combat money laundering and terrorist financing.
On July 29, TuoniaoX.com reported that the Bank Policy Institute (BPI), a U.S. banking advocacy organization, supports legislation by crypto critic Senator Elizabeth Warren calling for digital assets to be subject to their own set of anti-money laundering (AML) laws. Elizabeth Warren reintroduced the proposed "Digital Asset Anti-Money Laundering Act of 2023" on July 28 alongside multiple officials.
BPI supports the bill, which requires increased transparency in digital asset transactions to combat money laundering and terrorist financing. BPI emphasized that the existing U.S. anti-money laundering framework does not account for digital assets, noting: "The existing anti-money laundering and Bank Secrecy Act framework must take digital assets into consideration. We look forward to participating in this process to protect our nation's financial system from all forms of illicit finance."