13 Privacy Blockchains Could Be banned by New US Congress Bill

The Digital Asset Anti-Money Laundering Act of 2022 has been introduced in the United States Senate by Ms. Warren and Mr. Marshall. The act aims to require the Financial Crimes Enforcement Network to issue guidance on digital assets and to address other related issues.

Under the act, the Financial Crimes Enforcement Network will be required to classify custodial and unhosted wallet providers, cryptocurrency miners, and other independent network participants as money service businesses. The network will also have to finalize a proposed virtual currency rule and implement reporting requirements for transactions involving digital assets.

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The act also includes provisions prohibiting financial institutions from handling digital asset mixers, privacy coins, and other anonymity-enhancing technologies. It also prohibits the use of digital assets that have been anonymized by these technologies.

The act is an important step towards regulating the use of digital assets and ensuring that they are not used for money laundering and other illegal activities. It will help to promote the legitimate use of digital assets and protect consumers from potential fraud and abuse.

You can read the bill here https://www.warren.senate.gov/imo/media/doc/DAAML%20Act%20of%202022.pdf

The new bill includes provisions prohibiting financial institutions from handling digital asset mixers, privacy coins, and other anonymity-enhancing technologies. It also prohibits the use of digital assets that have been anonymized by these technologies.

As I don't think Senator Warren's measure will pass, I'm hoping that another one will be put up. Additionally, the measure restricts freedom of speech and privacy rather than addressing the problem of potential financial crises…but anyway…

If the bill pass, the following blockchains will be in danger.... Zec/GRIN/SCRT/OXEN/KEEP/PART/XVG/NU/BEAM/PIVX/DERO/monero

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also some interesting https://open.spotify.com/episode/2ltcRWWIzq1Y3CSaZaFkys?si=ef55b7a7a7cc44be&nd=1 chat about the congress and haters of crypto by ted cruz