Posted 12/13/2023, 1:28:00 PM
Crypto Anti-Money Laundering Bill Faces Obstacles in House Despite Senate Momentum
- Warren-Marshall anti-money laundering crypto bill gaining momentum in the Senate but facing obstacles in the House due to Rep. Patrick McHenry
- Bill aims to categorize crypto services as "money service businesses" subject to know-your-customer requirements
- Rep. Sean Casten struggling to find Republican co-lead on House version of the bill
- McHenry holding sway over House Republicans and wants focus on his own legislative efforts around market structure and stablecoins
- McHenry open to "workable policies" on crypto AML but unlikely to move forward without concessions