The US Senate has passed a series of amendments to the National Defense Authorization Act (NDAA) that have tightened oversight of cryptocurrency mixers, cryptocurrencies and institutions involved in digital asset trading.
According to USA Today, the provisions have been introduced by representatives from both parties, including Cynthia Lummis, Elizabeth Warren, Kirsten Gillibrand and Roger Marshall.
The senators have been guided by the Digital Asset Anti-Money Laundering Act, which went into effect last year, and the Responsible Financial Innovation Act.
The amendments, which aim to prevent events such as the FT crash, would require the establishment of due diligence standards for activities related to digital assets. The initiative aims to assess risks and confirm compliance with the sanctions regime and AML legislation.
The document involves a study by the Ministry of Finance regarding the suppression of anonymous crypto transactions, including through the use of crypto mixers such as Tornado Cash.