Warren's Crypto Money Laundering Bill Gains Support But Faces Pushback

Senator Warren's crypto money laundering bill gathers more support from top Democratic senators, but faces unclear path forward.
Bill would extend anti-money laundering rules to crypto providers like wallet services and miners.
Original co-sponsors include moderate Democratic Sen. Manchin and two Republicans.
Crypto industry lobbies against bill, arguing it would hurt innovation.
Some of Warren's proposals addressed separately in defense bill amendment on money laundering.

coindesk.com

Relevant topic timeline:

9/18/2023

Warren Gains Bipartisan Support for Crypto Regulation Bill to Curb Money Laundering

Senator Elizabeth Warren has gained the support of nine other US senators for her Digital Asset Anti-Money Laundering Act, which aims to crack down on the illicit use of cryptocurrencies.

9/21/2023

Toomey Sees Little Chance for Crypto Bills This Congress Despite Some Progress

Crypto legislation is unlikely to progress in the current US Senate, according to former Senator Pat Toomey, despite recent progress in the House, although the lack of a clear position from Senate Banking Committee Chairman Sherrod Brown may be seen as a positive sign according to Coinbase's policy chief.

9/25/2023

Gillibrand Pushes Fellow Dems to Make Crypto Regulation Bipartisan Priority

Sen. Kirsten Gillibrand is rallying fellow Democrats in Congress, particularly those on the Senate Banking Committee, to prioritize crypto regulation and believes that bipartisan support can be achieved through conversation and socialization of ideas in her digital assets bill co-authored with Sen. Cynthia Lummis; however, progress in the Senate remains uncertain due to crypto skepticism among some lawmakers and the current funding stalemate that may result in a government shutdown.

9/25/2023

Government Shutdown Risk Could Delay Crypto Regulation Bills

If U.S. lawmakers don't reach a decision on government spending by Sept. 30, bills focused on crypto regulation, market structure, and stablecoins could be put on hold, potentially impacting the progress of crypto legislation in Congress.

9/27/2023

Senate Banking Committee to Vote on Bill Allowing Banks to Work With Legal Marijuana Businesses

A bipartisan bill that would grant the marijuana industry access to banking services is expected to advance in the Senate, providing legal protection to financial institutions dealing with state-legal cannabis businesses.

10/9/2023

Crypto Bills Face Uncertain Path in Congress Despite House Support

The leadership mess in the U.S. House of Representatives could disrupt crypto legislation, casting uncertainty on the industry's hopes for clear regulatory rules and leaving it at risk of being sidelined as a volatile financial sector. The budget debate and the search for a new speaker of the House may delay progress, but there is still a possibility for crypto bills to advance before the end of the year. However, the Senate remains a hurdle, as there is limited enthusiasm among senators for crypto legislation.

10/13/2023

Lawmakers Scrutinize Cryptocurrency's Role in Financing Hamas Attacks on Israel

The recent reports of militant groups, including Hamas, receiving financing via digital currencies has increased scrutiny on the cryptocurrency industry, leading to a push by Elizabeth Warren to impose new anti-money laundering rules on crypto and an examination by Senate Banking Chair Sherrod Brown into crypto's role in the Israel attacks, highlighting concerns over the potential use of cryptocurrencies in terrorism financing and financial crime.

10/13/2023

Warren introduces bipartisan bill to extend anti-money laundering rules to crypto to combat illicit financing

Elizabeth Warren, a critic of cryptocurrency, argues that the recent revelation of Hamas funding through cryptocurrency strengthens her case for legislation targeting crypto money laundering and sanctions abuses.

Topics

Posted 9/18/2023, 3:34:00 PM

Warren's Crypto Money Laundering Bill Gains Support But Faces Pushback

Senator Warren's crypto money laundering bill gathers more support from top Democratic senators, but faces unclear path forward.
Bill would extend anti-money laundering rules to crypto providers like wallet services and miners.
Original co-sponsors include moderate Democratic Sen. Manchin and two Republicans.
Crypto industry lobbies against bill, arguing it would hurt innovation.
Some of Warren's proposals addressed separately in defense bill amendment on money laundering.

coindesk.com

Relevant topic timeline:

9/18/2023

Warren Gains Bipartisan Support for Crypto Regulation Bill to Curb Money Laundering

Senator Elizabeth Warren has gained the support of nine other US senators for her Digital Asset Anti-Money Laundering Act, which aims to crack down on the illicit use of cryptocurrencies.

9/21/2023

Toomey Sees Little Chance for Crypto Bills This Congress Despite Some Progress

9/25/2023

Gillibrand Pushes Fellow Dems to Make Crypto Regulation Bipartisan Priority

9/25/2023

Government Shutdown Risk Could Delay Crypto Regulation Bills

9/27/2023

Senate Banking Committee to Vote on Bill Allowing Banks to Work With Legal Marijuana Businesses

10/9/2023

Crypto Bills Face Uncertain Path in Congress Despite House Support

10/13/2023

Lawmakers Scrutinize Cryptocurrency's Role in Financing Hamas Attacks on Israel

10/13/2023

Warren introduces bipartisan bill to extend anti-money laundering rules to crypto to combat illicit financing