Senators Elizabeth Warren (D-MA), Roger Marshall (R-KS), Joe Manchin (D-WV) and Lindsey Graham (R-SC) reintroduced the Digital Asset Anti-Money Laundering Act. The bill would bring digital assets within the AML/CFT regulatory framework.
At a hearing before the House Financial Services Committee, witnesses critiqued FinCEN’s “Beneficial Ownership" rule.
Before the House Financial Services Subcommittee on National Security, Illicit Finance, and International Financial Institutions, Treasury Under Secretary Brian E. Nelson and FinCEN Acting Director Himamauli Das reviewed efforts to combat illicit finance and strengthen the U.S. AML/CFT regime.
A bipartisan group of Senators and Representatives urged FinCEN to amend the proposed reporting form that will be used to collect beneficial ownership information to adhere to congressional intent and ensure transparency.
Senator Elizabeth Warren (D-MA) and Senator Roger Marshall (R-KS) introduced the Digital Asset Anti-Money Laundering Act, which would expand the scope of BSA regulations to subject digital assets to the AML/CFT framework governing financial institutions.