A Crypto Bill Sponsored by US Senator Elizabeth Warren Faces Uncertain Future, Says Chamber of Digital Commerce CEO
The founder and CEO of the Chamber of Digital Commerce, Perianne Boring, predicts that a crypto bill sponsored by US Senator Elizabeth Warren is unlikely to pass. The bill, known as the Digital Asset Anti-Money Laundering Act, aims to impose money laundering rules on the crypto industry. It would extend Bank Secrecy Act responsibilities to crypto wallet providers, miners, validators, and other network participants.
Boring explains in an interview that even if the bill is approved by the Senate, it is unlikely to make it through the House of Representatives due to political barriers. The bill would need support from someone in the House who is willing to bring it forward. However, Boring acknowledges that the political landscape may change over time, potentially increasing the chances of the bill becoming law.
Hot Take: Elizabeth Warren’s Crypto Bill Faces Uphill Battle
The Digital Asset Anti-Money Laundering Act sponsored by Senator Elizabeth Warren may struggle to gain traction and pass into law. According to Perianne Boring, CEO of the Chamber of Digital Commerce, there are significant political barriers in place that prevent the bill from moving forward in its current form. Boring highlights that it would require support from someone in the House of Representatives who is willing to bring the bill forward, which seems unlikely given current circumstances. While there is a possibility for change in the future, for now, it appears that Warren’s bill will face an uphill battle in becoming law.
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