United

Biden

Joe Biden

when

<a href="https://bitcoinworld.co.in/us-house-rep-approves-fresh-crypto-bill-to-fight-illicit-finance-forms-working-group/" title="US House Rep. Approves Fresh Crypto Bill to Fight Illicit Finance, Forms Working Group" rel="nofollow"></a>
The US House of Representatives has passed a fresh crypto legislation, this time, to fight its use for illicit finance. The bipartisan financial services bill would create a government working group to access crypto in terrorism and money laundering. 
Passed on Monday, the crypto legislation, <a href="https://www.congress.gov/bill/118th-congress/house-bill/2969">sponsored</a> by Rep. Zach Nunn (R-Iowa), also encourages public-private partnership in exploring issues surrounding illicit finance in the digital asset ecosystem. 
As cryptos are “quickly emerging” as a major payment, Rep. Nunn wants to ensure Americans have “protected” access to it. 
“This bipartisan bill will help ensure the United States is prepared to address security risks and prevent illicit money laundering while also protecting consumer choice for all Americans,” he said in a <a href="https://nunn.house.gov/2024/07/22/nunn-bill-to-protect-americans-digital-assets-passes-house/">statement</a>.  “We must do both simultaneously to ensure the long-term integrity of digital assets.” 
The temporary working group will be under the Treasury Department. It would include industry experts such as representatives from blockchain intelligence companies, research institutions and fintech firms, the release noted. 
Further, the group would research crypto transactions and how to keep bad actors from using it for terrorism. 
<h3 id="span-style-font-weight-400-crypto-bill-unlikely-to-pass-the-senate-span">Crypto Bill Unlikely to Pass The Senate</h3> 
However, despite the US House’s approval, the crypto bill is unlikely to advance to the Senate. Though, the legislation is a part of a broader effort by Congress to address cryptocurrency regulation. 
Besides, speaking during a House floor, Rep. Nunn stressed that the legislation is important to make sure that “the next generation of financial and internet technology is built right here in America.” 
Per TD Cowen analyst Jaret Seiberg, the bill is a way to register crypto critics’ demands for money laundering crackdowns.&nbsp; 
He wrote in a client note that the bill gives crypto advocates a “political cover” from attacks. 
The bill arrives at a time when industry representatives are reaching out to Kamala Harris, encouraging her to embrace cryptos.&nbsp; 
On Monday, the Digital Chamber urged Vice President Harris to support the digital asset industry, after President Joe Biden backed-off from the 2024 Presidential race.

US House Rep. Approves Fresh Crypto Bill to Fight Illicit Finance, Forms Working Group

目次

ItsBitcoinWorld

2024年7月24日公開の他の記事

Tron Price (TRX) Targets New Gains: Is Another Increase Coming?

Ripple News : Top Reasons XRP Price Could Experience a Major Upswing

Metaplanet Teams Up with Hoseki to Verify Bitcoin Holdings

Shiba Inu Burn Rate Surges by 482.88% in 24 Hours

DEX Uniswap announces an update for UniswapX, and users are hoping for more activity

Ethereum ETF Approval: These Layer 2 Cryptos Are Set for a Massive Surge

ニュースレターを購読して暗号資産の最新情報を毎日入手！