Cosponsored a bill on 2023-09-14
Bill Name
Digital Asset Anti-Money Laundering Act of 2023
Details
This bill, titled the "Digital Asset Anti-Money Laundering Act of 2023," seeks to significantly expand the regulatory reach of the Financial Crimes Enforcement Network (FinCEN) over digital assets. It redefines "financial institution" to include unhosted wallet providers, digital asset miners, validators, and other network participants, subjecting them to Bank Secrecy Act obligations. The bill also mandates regulations on anonymity-enhanced cryptocurrencies and mixers, and imposes reporting requirements for digital assets held outside the U.S.