US Senator Elizabeth WarrenA bipartisan Anti-Money Laundering (Anti-Money Laundering) covering DeFi and DAOs AML) will put the law on the table.
In the advancing journey of cryptocurrencies, the consequences of bad scenarios emerge. The FTX bankruptcy required solving many problems in the crypto industry and gaining regulatory clarity. The proliferation of money laundering and fraud, especially with crypto, has also brought legal processes to the table. Finally US Senator Elizabeth Warrenon DeFi and DAO focused on a legal process.
Senator Warren Mindful of DeFi and DAO
Warrenon February 14, by the Senate Banking Committee. “Crypto Collapse”He made various statements in the session titled.
Referring to the proliferation of money laundering incidents in the crypto industry Warrenhas stated that it will reintroduce the Digital Asset Anti-Money Laundering Act of 2022, which it originally presented on December 15, 2022.
Making statements on the subject, the senator said:
“In other words, they want a giant loophole in the law for DeFi so they can launder money when a drug lord or a terrorist pays them to do it.”
Addressing the problems caused by legal loopholes and slow processes, Warren, if the seven draft bill is passed He argued that startups like Tornado Cash cannot be seen . Senator’s bill, illegal use of secrecy will be prohibitive.
Moreover senator, “big financial criminals love crypto”and cryptocurrency “the preferred method for international drug traffickers”claimed to be.
Senator, present AMLof the laws “not covering large parts of the crypto industry”by stating that a bipartisan AML law He underlined that it will soon be presented.
