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 <p class="is-style-lead">The <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> <a rel="noopener noreferrer nofollow" title="community" href="https://thebittimes.com/tag/community.html">community</a> is up in arms over the U.S. Senator’s attempt at introducing a bill skeptics say is aimed at curbing <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currency growth and innovation.</p>
 <p>With the <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> <a rel="noopener noreferrer nofollow" title="community" href="https://thebittimes.com/tag/community.html">community</a> on edge after a tumultuous year that has seen the insolvency of FTX and problems at Binance, regulatory winds could well be on the horizon.</p>
 <p>U.S. Senator Elizabeth Warren has introduced a new bill aimed at regulating <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currency.</p>
 <p>On Dec. 11, Warren introduced what is dubbed the Digital Assets Anti-Money Laundering Bill.</p>
 <p>The has already received support from several over Senators Raphael Warnock (D-Ga.), Laphonza Butler (D-Calif.), Chris Van Hollen (D-Md.), John Hickenlooper (D-Colo.), and Ben Ray Luján (D-N.M.).&nbsp;</p>
 <p>The new bill expands the provisions of the Bank Secrecy Act to include a wide range of counterparties to include not only exchanges miners and validators, but also service providers, custodians and crypto wallet entities themselves.</p>
 <p>The crypto community believes the bill will not benefit the cryptocurrency industry, and has reacted strongly on X.</p>
 <p>According to Coin Center representative Neeraj K. Agrawal, tge anti-money laundering law in digital assets directly attacks technological progress and personal privacy. At the same time, he believes the bill should be vociferously opposed.</p>
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    <p lang="en" dir="ltr">The Digital Asset Anti-Money Laundering Act is a direct attack on technological progress and also a direct attack on our personal privacy and autonomy. <br><br>Make no mistake, while proposed as a solution to potential money laundering and terrorist financing, the bill is in fact a… pic.twitter.com/8oID1wECGL</p>— Neeraj K. Agrawal (@NeerajKA) December 11, 2023
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 <p>Galaxy Research also believes that Warren’s proposed rules would effectively ban Bitcoin (BTC) in the U.S. However, in the comments, users noted that the bill would not likely receive approval.</p>
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    <p lang="en" dir="ltr">requiring non-custodial open-source software to perform bank-like compliance is *the big attack* bitcoin’s enemies have always threatened. it’s impossible for bitcoin core, for example, to comply with this, so it amounts to an effective ban of bitcoin in the USA.</p>— Alex Thorn (@intangiblecoins) December 11, 2023
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 <p>Last week, the U.S. House of Representatives Committee passed another Bill aimed at supporting blockchain technology, which authorities have rolled out as a way of spearheading a distributed ledger system in the U.S.</p>
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  </svg> <span class="cn-block-related-link__prefix"> You might also like: </span> Crypto advocates blast 2024 US defense bill for nixing digital asset proposals: ‘A missed opportunity’
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/crypto-community-voices-skepticism-of-elizabeth-warren-s-crypto-bill-tbt73420.html">https://thebittimes.com/crypto-community-voices-skepticism-of-elizabeth-warren-s-crypto-bill-tbt73420.html</a></p>

Crypto community voices skepticism of Elizabeth Warren’s crypto bill

TheBitTimes

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