118th Congress Finance and Financial Sector
S. 2669: Digital Asset Anti-Money Laundering Act of 2023
Introduced
- Introduced (completed)
- Passed Senate (not reached)
- Passed House (not reached)
- To the President (not reached)
- Became law (not reached)
Summary
This bill applies existing anti-money laundering requirements to digital assets providers and facilitators. Specifically, the bill makes digital assets providers and facilitators financial institutions under the Bank Secrecy Act. Under the act, financial institutions must keep records, file disclosures, and report suspicious activity to federal regulators to aid in detecting money laundering and terrorist financing activities.
The bill also directs specified federal financial regulators to establish rules regarding digital assets. The Financial Crimes Enforcement Network (FinCEN) must require U.S. persons to report cryptocurrency transactions through foreign accounts of over $10,000. FinCEN must also require digital asset kiosk owners and administrators to submit and update every 90 days the physical addresses of the kiosks.
The Department of the Treasury must establish regulations to mitigate risks for financial institutions handling, using, or transacting business with (1) digital asset mixers, privacy coins, and other anonymity-enhancing technologies; and (2) digital assets that have been anonymized by these technologies.
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Treasury, the Securities and Exchange Commission, and the Commodity Futures Trading Commission must establish risk examination and review processes for their respective anti-money laundering programs.
Written by the Congressional Research Service, Library of Congress.
Roll calls
No roll call votes have been held on this bill.
Amendments
No amendments were offered to this bill.
Cosponsors
- Lindsey Graham R-SCOriginal
- Joe Manchin I-WVOriginal
- Roger Marshall R-KSOriginalWithdrawn Jul 24, 2024
- Michael Bennet D-CO
- Richard Blumenthal D-CT
- Robert Casey D-PA
- Catherine Cortez Masto D-NV
- Richard Durbin D-IL
- Angus King I-ME
- Gary Peters D-MI
- Jeanne Shaheen D-NH
- Tina Smith D-MN
- Sheldon Whitehouse D-RI
- John Fetterman D-PA
- Ben Luján D-NM
- Raphael Warnock D-GA
- John Hickenlooper D-CO
- Laphonza Butler D-CA
- Chris Van Hollen D-MD
Who scored on this bill
- 1Elizabeth Warren SponsorDrew cross-party cosponsors, introduced2 events+6
- 2Roger MarshallCosponsored; withdrew cosponsorship2 events−10
See all scorers and every scoring event
Introductions and cosponsorships count toward weekly caps and show no points.
Other bills by Elizabeth Warren
History
- Introduced in the Senate by Elizabeth Warren.
Show the full action history (5 actions)
- Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 118-592.
- Committee on Banking, Housing, and Urban Affairs. Hearings held.
- Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 118-510.
- Introduced in Senate
- Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.