The U.S. Senate has passed the 2024 National Defense Authorization Act (NDAA), which included a crypto-focused provision that takes aim at crypto mixers and “anonymity-enhancing” crypto assets. thesamreynolds reports
The U.S. Senate on Thursday evening passed the 2024 National Defense Authorization Act , which included a provision that tightens oversight over financial institutions engaged in crypto trading and takes aim at crypto mixers and “anonymity-enhancing” crypto assets.was brought forward by a bipartisan group of U.S.
The amendment was crafted by provisions taken from the 2023 Lummis-Gillibrand Responsible Financial Innovation Act and Senator Warren’s and Senator Marshall’s Digital Asset Anti-Money Laundering Act, introduced in 2022. Specifically, it requires that the Secretary of the Treasury"establish examination standards for crypto assets," which would help examiners better assess risk and ensure compliance with money laundering and sanctions laws.
It’s a common practice to add amendments to the bill that aren’t necessarily defense-related. The House passed its version of the NDAA, which is seen as a must-pass piece of legislation, earlier this month, and both chambers now need to negotiate on a version that can pass both chambers., which would create a federal regulatory framework for crypto in the U.S. The House Financial Services Committee passed its version of that bill on Wednesday.
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