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The modification was crafted by provisions taken from the 2023 Lummis-Gillibrand Accountable Monetary Innovation Act and Senator Warren’s and Senator Marshall’s Digital Asset Anti-Cash Laundering Act, launched in 2022. Particularly, it requires that the Secretary of the Treasury “set up examination requirements for crypto property,” which might assist examiners higher assess danger and guarantee compliance with cash laundering and sanctions legal guidelines. As well as, it requires the Treasury Division to conduct a examine on “combating nameless crypto asset transactions,” together with using crypto mixers which are generally used to obfuscate funds.
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