Pipeline · Bill → Law
Step 1
Introduced
Jul 27, 2023
Step 2
Referred
Jul 27, 2023
Banking, Housing, and Urban Affairs
Step 3
Committee
Feb 1, 2024
Step 4
Senate
Step 5
House floor
Step 6
Resolve Changes
Step 7
Signed
SummaryCRS 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...
Timeline · 5 actions
Feb 1, 2024
Committee on Banking, Housing, and Urban Affairs. Hearings held.
Jan 11, 2024
Committee on Banking, Housing, and Urban Affairs. Hearings held.
Oct 26, 2023
Committee on Banking, Housing, and Urban Affairs. Hearings held.
Jul 27, 2023
Introduced in Senate
Jul 27, 2023
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.