US Senators Propose Digital Asset Anti-Money Laundering Act

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US Senators have introduced a new bill with the stated aim of cracking down on money laundering in the crypto industry. 

If passed, the Digital Asset Anti-Money Laundering Act will apply sweeping KYC rules to a larger number crypto participants, including miners, validators and developers. 

  • FI’s will be prohibited from transacting with digital asset mixers and privacy coins
  • US persons will need to report transactions for transactions with digital assets above 10KUSD

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