Crypto Firms Still Face Full AML Rules After CLARITY Act Vote
The 49-50 vote leaves customer identification, anti-money laundering and sanctions rules in place for covered crypto firms, analysts said.
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Cryptocurrency News | Cryptocurrency Prices | Market CapCrypto firms still face full AML rules after CLARITY Act vote
The Senate’s failure to advance the CLARITY Act has left existing customer identification, anti-money laundering, sanctions, and suspicious activity reporting requirements unchanged for covered U.S. crypto businesses. CLARITY Act vote leaves existing AML duties intact Prove Global Head of Digital…
Why Crypto Rallied Instead Of Crashing After CLARITY Act Failed
The post Why Crypto Rallied Instead Of Crashing After CLARITY Act Failed appeared first on Coinpedia Fintech News Bitcoin hit $86,000 on September 21, a level unseen since January 28. Experts called it “the first day of the bull market,” pointing to a puzzling market reaction. Two events widely expected to hurt crypto, the CLARITY Act’s failure and a 25 basis point Fed rate hike, instead coincided with Bitcoin climbing roughly 15% in …
The failure of a procedural vote in the U.S. Senate did not alter the money laundering prevention obligations that already weigh on crypto covered companies. While legislative uncertainty continues, banks and platforms will have to keep identity controls, wallets and transactions connected, as well as define clear limits for artificial intelligence agents.
CFTC crypto rules are not in effect yet: after the failed CLARITY Act, only a confidential file is with the White House's OIRA. The message After failed CLARITY Act, CFTC takes first step towards crypto rules was written by Nadia Voortman and appeared first on Bitcoinmagazine.nl.
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