MacMusic  |  PcMusic  |  440 Software  |  440 Forums  |  440TV  |  Zicos
laundering
Search

US Senators Introduce Digital Assets Anti-Money Laundering Bill

Thursday December 15, 2022. 11:00 AM , from Slashdot
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. CoinDesk reports: If it becomes law, the Digital Asset Anti-Money Laundering Act (PDF) 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. 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.

Read more of this story at Slashdot.
https://yro.slashdot.org/story/22/12/15/0226258/us-senators-introduce-digital-assets-anti-money-laun...
News copyright owned by their original publishers | Copyright © 2004 - 2024 Zicos / 440Network
Current Date
Mar, Fri 29 - 02:02 CET