Crypto AML Rules Removed from US Defense Bill, Ending Push for New Regulations This Year
• Crypto AML provisions dropped from 2023 US Defense Bill, ending backdoor effort to pass rules this year • House version did not contain provisions that Senate version did • Senate amendments included examining if crypto firms are compliant with AML rules • Other Senate amendment sought report on use of mixers/tumblers and recommendations for legislation • Separate bipartisan bill introduced to expand sanctions rules to digital asset companies that facilitate transactions with terrorists