US Senate Approves Defense Bill Targeting Crypto Mixers
US Senate Passes $886 Billion NDAA with Stricter Oversight on Crypto Trading
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On July 27, the United States Senate approved the 2024 National Defense Authorization Act (NDAA), allocating $886 billion for defense purposes. Notably, the bill includes a provision aimed at tightening oversight on institutions involved in crypto trading, particularly targeting crypto mixers and anonymity-enhancing coins.
A group of senators, including Cynthia Lummis, Elizabeth Warren, Kirsten Gillibrand, and Roger Marshall, advanced the crypto-related amendment within the NDAA. The amendment incorporates elements from both the Digital Asset Anti-Money Laundering Act, introduced in 2022, and the Responsible Financial Innovation Act, which seeks to prevent incidents similar to the FTX-style event in the crypto industry. Read More...