Senators Roger Marshall and Elizabeth Warren have teamed up to bust cryptocurrency money laundering and the financing of terrorists. They have introduced the “Digital Asset Anti-Money Laundering Act of 2022”. Marshall says the bipartisan legislation would mitigate risks that cryptocurrency and other digital assets pose to National Security. He says following the September 11th attacks, the government enacted reforms that helped banks cut off terrorists from America’s financial system and applying the same policies to cryptocurrency will prevent digital assets from being used to finance illegal activities like the trafficking of illicit fentanyl through the dark web, that can harm innocent Kansans.
The bill would close loopholes to the existing anti-money laundering and countering of the financing of terrorism framework. This would include what Warren called “rogue nations, drug lords, and human traffickers using digital assets to launder billions in stolen funds, evade sanctions, and finance terrorism.
