{"id":22511,"date":"2023-09-18T08:18:11","date_gmt":"2023-09-18T08:18:11","guid":{"rendered":"https:\/\/nftandcrypto-news.com\/crypto\/9-us-senators-publicly-back-elizabeth-warrens-crypto-bill\/"},"modified":"2023-09-18T08:18:13","modified_gmt":"2023-09-18T08:18:13","slug":"9-us-senators-publicly-back-elizabeth-warrens-crypto-bill","status":"publish","type":"post","link":"https:\/\/nftandcrypto-news.com\/crypto\/9-us-senators-publicly-back-elizabeth-warrens-crypto-bill\/","title":{"rendered":"9 US senators publicly back Elizabeth Warren\u2019s crypto bill"},"content":{"rendered":"<p><\/p>\n<div data-v-281e09ba=\"\">\n<p>Nine United States Senators have added their support to Senator Elizabeth Warren\u2019s Digital Asset Anti-Money Laundering Act, according to a statement from Warren\u2019s office.\u00a0<\/p>\n<p>The press release on Warren\u2019s official senate webpage\u00a0names\u00a0Democratic Party Senators Gary Peters, Dick Durbin, Tina Smith, Jeanne Shaheen, Bob Casey, Richard Blumenthal, Michael Bennet and Catherine Cortez Masto, along with independent Senator\u00a0Angus King, as those who joined the bipartisan coalition supporting the bill. Peters is the chair of the Senate Homeland Security and Governmental Affairs Committee, while Durbin is the chair of the Senate Judiciary Committee. <\/p>\n<p>Warren herself welcomed the new bill supporters, stating: <\/p>\n<blockquote><p>\u201cOur expanding coalition shows that Congress is ready to take action \u2013 our bipartisan bill is the toughest proposal on the table cracking down on crypto\u2019s illicit use and giving regulators more tools in their toolbox.\u201d<\/p><\/blockquote>\n<p>This bill has also been endorsed by Transparency International U.S., Global Financial Integrity, the National District Attorneys Association, the Major County Sheriffs of America, the National Consumer Law Center and the National Consumers League.<\/p>\n<p><strong><em>Related: Elon Musk, Mark Zuckerberg and Sam Altman talk AI regs in Washington<\/em><\/strong><\/p>\n<p>Warren reintroduced the Digital Asset Anti-Money Laundering Act, along with Senators Joe Manchin, Roger Marshall and Lindsey Graham, in July 2023. In the current version, the document intends to crack down on noncustodial digital wallets, extend Bank Secrecy Act responsibilities, establish an Anti-Money Laundering\/Combating the Financing of Terrorism compliance examination and other legal measures to fight the illicit use of digital money. <\/p>\n<p>Warren believes there is a \u201c$50 billion crypto tax gap,\u201d\u00a0with the\u00a0Internal Revenue Service and U.S. Treasury risking missing out on roughly $1.5 billion in tax revenue for the 2024 financial year if a tax policy update is delayed.<\/p>\n<p><em><strong><em>Collect this article as an NFT<\/em><\/strong><em> to preserve this moment in history and show your support for independent journalism in the crypto space.<\/em><\/em><\/p>\n<p><template data-name=\"subscription_form\" data-type=\"law_decoded\"\/><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Nine United States Senators have added their support to Senator Elizabeth Warren\u2019s Digital Asset Anti-Money Laundering Act, according to a statement from Warren\u2019s office.\u00a0 The press release on Warren\u2019s official senate webpage\u00a0names\u00a0Democratic Party Senators Gary Peters, Dick Durbin, Tina Smith, Jeanne Shaheen, Bob Casey, Richard Blumenthal, Michael Bennet and Catherine Cortez Masto, along with independent [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":22512,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","om_disable_all_campaigns":false,"footnotes":""},"categories":[42],"tags":[],"class_list":["post-22511","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>9 US senators publicly back Elizabeth Warren\u2019s crypto bill | NFT &amp; 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