Elizabeth Warren Unveils Bipartisan Bill to Crack Down on Crypto Money Laundering

As federal prosecutors seek to imprison former crypto darling Sam Bankman-Fried, Sen. Elizabeth Warren is attempting to push through Congress a bipartisan crackdown on money laundering in the crypto industry.

The Massachusetts Democrat is teaming up with Republican Sen. Roger Marshall of Kansas to introduce new legislation on Wednesday that would seek to close loopholes in the financial system that pose national security risks by allowing digital assets to be used for money laundering, Warren’s office told CNN.

Due to time constraints, the Warren-Marshall crypto legislation has little chance of getting through this Congress. The bill would need to be reintroduced when the new Congress is seated.

The effort aims to level the playing field by forcing crypto firms to play by the same rules that apply to banks and traditional firms.

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