CRYPTO

Authored by J.W.Verret via CoinTelegraph.com,

Warren’s Digital Asset Anti-Money Laundering Act would shut crypto providers down, playing into the hands of the banking industry…

It seems that every time Massachusetts Senator Elizabeth Warren fails to get an anti-crypto bill passed, she introduces a new draft. She has the strategy of messaging bills — legislation introduced for the purposes of media attention and fundraising more than actual passage — down to a science.

Warren’s latest legislation, the Digital Asset Anti-Money Laundering Act, threatens to undermine crypto’s core principles of freedom and personal sovereignty. While Warren argues that her bill is necessary to combat illicit activities, a closer look reveals its potential to stifle innovation, endanger user privacy and play right into the hands of big banks.

The bill, co-sponsored by Kansas Senator Roger Marshall, is based on the premise that digital assets are increasingly being used for criminal activities such as money laundering, ransomware attacks and terrorist financing. While some bad actors exploit digital assets, the bill’s approach of treating all developers and wallet providers as potential criminals is not only impractical but also dangerous.

The most dangerous part of the bill is the requirement that digital asset developers comply with Bank Secrecy Act (BSA) responsibilities and Know Your Customer (KYC) requirements. This effectively places the burden of law enforcement on the shoulders of software developers. It’s akin to requiring car manufacturers to be responsible for how their vehicles are used on the road.

The Digital Asset Anti-Money Laundering Act of 2023

The bill further seeks to eliminate privacy tools that protect crypto users from malicious actors. By cracking down on digital asset mixers and anonymity-enhancing technologies, Warren’s proposal threatens the privacy rights of law-abiding (more…)

In a groundbreaking statement, Argentina's Minister of Foreign Affairs, Diana Mondino, has confirmed the country's stance on embracing Bitcoin for contractual agreements.

In a Dec. 21 post on X (formerly Twitter), Mondino said that a decree seemingly aimed at economic reform and deregulation would allow the use of BTC and other cryptocurrencies in the country under certain conditions.

The ‘Bases for the Reconstruction of the Argentine Economy’ (more…)

Authored by David Attlee via CoinTelegraph,com,

Amid its ongoing streak of expansions and collaborations, Worldcoin has reportedly rolled back one of its core functions in three markets…

Worldcoin has shut off its offline orb verification function for users in three markets: India, Brazil, and France, a report by Moneycontrol on Dec. 21 says. 

A five-pound chromatic helmet that scans individuals’ eyeballs to verify their identities, the Orb was conceived by (more…)