US senators Elizabeth Warren and Roger Marshall have prepared a new bill to combat money laundering through cryptocurrencies.
In the bill submitted by Democratic Party member Warren and Republican Party member Marshall, the bill was processed using crypto money. laundering proceeds of crime and terrorism financing aimed at combating crime.
If the bill called the Law Against Money Laundering by Digital Asset is implemented digital wallet service providers and cryptocurrency minerswill begin to act in accordance with know-your-customer (KYC) standards.
Licensed if the bill is approved financial institutions for cryptocurrencies mixing service provider cooperation with organizations will be prohibited.
Cryptocurrency users can fully use their wallets without any third party service. manage themselves can process. One of the practices suggested in the draft is that institutions that detect transactions with such wallets report these transactions to FinCEN.