Bipartisan Bill Would Require Federal Regulators to Create “Risk-Focused Examination and Review” Processes for Cryptocurrency Oversight

On July 13, U.S. Senators Cynthia Lummis (R-WY), Kirsten Gillibrand (D-NY), Elizabeth Warren (D-MA), and Roger Marshall (R-KS) introduced an amendment to the National Defense Authorization Act (NDAA) that seeks to examine the adequacy of current anti-money laundering obligations (set forth in the Bank Secrecy Act (BSA)) as applied to crypto assets, crypto asset kiosks, payment stablecoin issuers, and crypto asset mixers….
By: Troutman Pepper