The anti-money-laundering bill sponsored by Senators Elizabeth Warren (D-Mass.) and Roger Marshall (R-KS) purports to close loopholes in the risk of cryptocurrencies being used for illicit activity that even the Biden administration agrees is small. But the ill-conceived bill is a useful harbinger for the crypto community of a coming conflict between the community’s desire for blockchain privacy and law enforcement’s responsibility for national security.
Warren recently said she was leading an “anti-crypto army,” and her misguided Digital Asset Money Laundering Act tars and feathers cryptocurrencies by unfairly tying them to illegal activities. The reality is that even the Biden administration agrees that illicit crypto use is small – see the recent
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