Hours ago, the US Senate, the legislature of the US, approved an important law concerning the crypto money industry. The law, which allocates $886 billion to the government for national defense, passed the US Senate last night. In the new law, details about privacy-themed crypto money projects draw attention.
Inspired by the Digital Asset – Anti-Money Laundering regulation approved in the US in 2022, the proxies gave the government broader enforcement powers over privacy-based cryptocurrency activities.
The comment of a Twitter user named Sppeek on the subject was covered in the crypto press. The social media user expressed his concern that even stablecoin transfers like USDC would not be possible without authentication.
seems pretty obvious that democrats have abandoned any stablecoin bill in favor of sneaking through this provision in the NDAA must pass bill.
anyone wanna guess what janet yellen will decide about whether KYC-less transfers of USDC are allowed? pic.twitter.com/sys38GI31z
— Spreek (@spreekaway) July 27, 2023
New Tornado Cash Cases Coming!
Most jurisdictions around the world are sanctioning crypto initiatives that prioritize anonymity. The US has banned the crypto app called Tornado Cash nationwide in recent years due to “money laundering” concerns. The new regulation, which has passed the Senate, authorizes the government to impose similar sanctions.
In the United States, a number of other crypto-related regulations passed in the past week.
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