Senators Roger Marshall and Elizabeth Warren's proposed bill, the Anti-Money Laundering through Digital Assets Act, has caused a stir with revelations of bank lobbying. The American Banking Association (ABA) played a significant role in its development, igniting debates on the future of cryptocurrencies in the US. This move, particularly Warren's meeting with JPMorgan CEO Jamie Dimon, has drawn criticism from the crypto community. Coinbase CEO Brian Armstrong accuses the senators of pandering to major banks, warning of potential voter alienation ahead of the 2024 elections, according to <a href="https://cryptofeed.ru/zakonoproekt-elizabet-uorren-lobbirovali-banki/" rel="noopener noreferrer nofollow">Cryptofeed</a>.
The bill, aimed at imposing stringent regulations on cryptocurrency technologies, including non-custodial wallets and mining pools, received backing from the Banking Policy Institute (BPI). However, the crypto community's response has been predominantly negative. Opponents highlight the hypocrisy of targeting crypto for illegal activities, citing Chainalysis data showing less than 0.2% of cryptocurrency transactions are illegal. In contrast, traditional financial institutions like JPMorgan have incurred fines nearing $40 billion for similar offenses.
Scott Johnson, a financial advocate, suggests that voters disillusioned with Warren's stance should support opposing candidates. Amidst this controversy, the bill's fate remains undecided, raising critical questions about the role of cryptocurrencies in the American financial landscape.&nbsp;

Banks Behind Warren’s Anti-Crypto Bill: Community Outcry Grows

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