US cryptocurrency lobby Blockchain Association has expressed concerns against Senator Elizabeth Warren’s “Crypto-Asset Anti-Money Laundering Act” (DAAMLA).
Blockchain Association on Tuesday, Senator Elizabeth Warren Digital Asset Anti-Money Laundering Act of 2023 He sent a letter to Congress to express his concerns about the bill.
In the letter in question, the law It will lead to an outflow of capital and expertise from the USA While defending, regulators were invited to be more constructive. On the other hand, these strict rules are probably will be dysfunctional on the sector and it was argued that their only effect would be to drive investors away:
The bill risks our nation’s strategic advantage, threatens tens of thousands of U.S. jobs, and has little impact on the illicit actors it targets. We expect the Congress to take a more nuanced approach on this issue.
Blockchain Association sent another letter last month and raised objections on similar issues. In the bill introduced by Warren, Know Your Customer (KYC) And Anti-Money Laundering (AML) of your rules miners, stock exchanges And validators It is requested to be applied to the entire cryptocurrency sector, including