Will Politics Halt the Crypto Boom?
Decrypting Senator Warren’s Digital Asset Anti Money Laundering Act
On Monday, December 11, US Senator Elizabeth Warren introduced a bill in the US Senate that addresses the alleged misuse of digital currencies for illegal activities such as money laundering, drug trafficking, and circumventing sanctions — the so-called
“Digital Asset Anti Money Laundering Act.”
If passed, this could undoubtedly cast a shadow over the entire crypto industry and potentially bring an end to the current crypto boom.
But how likely is it that the bill, in its current form, will make its way through Congress?
Warren Calls for Tighter Crypto Market Regulations
Warren has been vocal about her reservations regarding cryptocurrencies in the past. Just last Thursday, she appeared on CNBC, claiming that North Korea uses Bitcoin and cryptocurrencies to finance nearly half of its nuclear weapons program — sources?
Nowhere to be found!
Despite Bitcoin’s transparency making it less conducive to illegal activities compared to fiat currencies, she, along with four other legislators, introduced the Digital Asset Anti Money Laundering Act, citing its necessity for…
