Anti-money laundering bill targeting cryptocurrency introduced in US Senate
As part of designating crypto actors as MSBs, the bill also requires FinCEN to establish an anti-money laundering task force and combat the financing of terrorism compliance process for MSBs.
DAAML also takes action against cryptocurrency ATMs by requiring the machines owner to regularly update kiosk location maps and verifying customer identity., Senator Marshall's office said unhosted crypto wallets, meaning any that are controlled by an individual - like cold storage on a flash drive or in an offline wallet - are a serious regulatory gap that needs closing.
DAAML directs FinCEN to implement proposed 2020 rules"which would require banks and MSBs to verify customer and counterparty identities, keep records, and file reports in relation to certain digital asset transactions involving unhosted wallets or wallets hosted in non-BSA compliant jurisdictions."
Danmark Seneste Nyt, Danmark Overskrifter
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