Senators crack down on illicit crypto use

September 19, 2023

Dear Reader,

Have you heard of the Digital Asset Anti-Money Laundering Act?

No? It's no surprise. Neither has 99% of the population.

Yet… it's one of the most important bills when it comes to crypto.

Elizabeth Warren introduced the bill to help stop "crypto's use in money laundering, drug trafficking, sanctions evasion."

Surprisingly, the regulation has plenty of bipartisan support.

It's also 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
The National Consumers League

Quite a list. Don't you think?

The updated version of the bill covers a wide variety of illicit activity.

Including a crack down on noncustodial wallets, bank secrecy, money laundering, and a host of other illegal activities through the use of digital money.

Should this bill pass, it could spark a run-up or run-down on the market.

These kinds of events can sometimes create perfect crypto buying opportunities.

Cointelegraph Markets Pro spots these developments and lets users know a potential shift in prices is underway.

Regards,

Max K.
Markets Pro Team