New US Senate Bill Proposes Stringent Anti-money Laundering Rules for Defi Protocols

The post New US Senate Bill Proposes Stringent Anti-money Laundering Rules for Defi Protocols appeared first on Coinpedia Fintech News The US Senate is drafting the Crypto-Asset National Security Enhancement Act of 2023, requiring DeFi protocols to adopt bank-like regulations. The bill aims to curb cryptocurrency-related crimes and money laundering by imposing AML conditions on controlling entities of DeFi apps. These entities must gather and verify user information, establish anti-money laundering measures, report suspicious activity, …