U.S. Senator Jack Reed sponsors bipartisan invoice to tighten Know Your Buyer (KYC) and Anti-Cash Laundering (AML) rules and sanctions necessities for Decentralized Finance (DeFi), Senate on July 18 submitted to. Based on a information launch on Reed’s web site, the invoice is: of the title Cryptocurrency Nationwide Safety Enhancement and Enforcement (CANSEE) Act.
The invoice would impose the identical necessities on DeFi companies as “different monetary corporations, together with centralized cryptocurrency buying and selling platforms, casinos, and even pawn retailers.” The invoice would make “everybody who controls that mission” chargeable for the usage of DeFi companies by sanctioned events. furthermore:
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