Senator Elizabeth Warren is now the leading Democrat on the Senate Banking Committee, a position that places her at the forefront of discussions impacting the cryptocurrency industry. As she assumes this role, she is backing a significant legislative effort aimed at extending regulations from the Bank Secrecy Act to encompass key players in the crypto sector.
This proposed bill targets miners, validators, and wallet providers, sectors that have traditionally operated with less direct regulatory oversight. By subjecting these entities to the same requirements as banks under the Bank Secrecy Act, the bill seeks to increase transparency and potentially curb illicit activities within the digital currency space.
Source: www.theblockcrypto.com ↗
