Senator Warren’s Bipartisan Push to Combat Crypto Money Laundering Gains Momentum Senator Elizabeth Warren
(D-Mass.) has announced an increase in support for the bipartisan Digital Asset Anti-Money Laundering Act, which aims to tackle concerns around the use of crypto in illegal activities such as money laundering and drug
trafficking. The legislation has gained backing from five additional senators, including Senators Raphael Warnock
(D-Ga.), Laphonza Butler (D-Calif.), and Chris Van
Hollen (D-Md.), all members of the Senate Banking, Housing, and Urban
Affairs Committee. The proposed bill aims to reduce risks that Warren claims are associated with crypto by “
closing loopholes” and “bringing the digital asset ecosystem into greater compliance” with established anti-money laundering and counter-terrorism
financing frameworks. In her latest announcement, Senator Warren stressed the urgency of this legislation, citing the Treasury Department’s apprehensions about the role of
crypto in facilitating various
illicit activities.
