Senate Banking Chairman Tim Scott has seen his push to pass sweeping new cryptocurrency regulations hit a stumbling block. The bill has faced criticism from Senate Judiciary chairman Chuck Grassley, who has raised concerns alongside ranking member Dick Durbin (D-Ill.) about a section of the crypto bill. According to reports, they claimed that the section […]
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Senate Banking Chairman Tim Scott has seen his push to pass sweeping new cryptocurrency regulations hit a stumbling block. The bill has faced criticism from Senate Judiciary chairman Chuck Grassley, who has raised concerns alongside ranking member Dick Durbin (D-Ill.) about a section of the crypto bill.
According to reports, they claimed that the section of the crypto bill would exempt certain software developers from financial licensing requirements. They also mentioned that the language would limit the ability of law enforcement to go after money laundering and illicit financing in the crypto industry.
