Notice: Function _load_textdomain_just_in_time was called incorrectly. Translation loading for the rank-math domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /var/www/wp-includes/functions.php on line 6121
US Senators Warren, Marshall Introduce Digital Assets Anti-Money Laundering Bill | i-AML Israel Anti-Money Laundering

US Senators Warren, Marshall Introduce Digital Assets Anti-Money Laundering Bill

The proposal will bring know-your-customer rules to crypto participants such as wallet providers and miners. U.S. Senators Elizabeth Warren (D-Mass.) and Roger Marshall (R-Kan.) are introducing a bill to crack down on money laundering and financing of terrorists and rogue nations via cryptocurrency.

If it becomes law, the Digital Asset Anti-Money Laundering Act will bring know-your-customer (KYC) rules to crypto participants such as wallet providers and miners and prohibit financial institutions from transacting with digital asset mixers, which are tools designed to obscure the origin of funds.

..

BANNER AML CTF i-AML

..

The act would also allow the Financial Crimes Enforcement Network (FinCEN) to implement a proposed rule requiring institutions to report certain transactions involving unhosted wallets – wallets where the user has complete control over the contents rather than relying on an exchange or other third party.

Concerns over the use of crypto to facilitate money laundering and terrorist financing are frequently aired by lawmakers or regulators and are often used to highlight the need for more robust regulation of the digital asset industry.

..

December 14, 2022 Published by The CoinDesk.

Recent Posts