New US Senate Bill Eyes Strict AML Rules for DeFi
posted 19 Jul 2023
The U.S. Senate is considering a new bill aimed at imposing strict anti-money laundering (AML) rules on decentralized finance (DeFi) protocols.
The Crypto-Asset National Security Enhancement Act of 2023 targets entities controlling DeFi protocols or providing their applications. It requires customer vetting, AML programs, and reports of suspicious activities.
In absence of a controlling entity, anyone investing over $25 million in a protocol's development would be responsible.
The Crypto-Asset National Security Enhancement Act of 2023 targets entities controlling DeFi protocols or providing their applications. It requires customer vetting, AML programs, and reports of suspicious activities.
In absence of a controlling entity, anyone investing over $25 million in a protocol's development would be responsible.
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