Crypto AML Provisions Dropped from US Defense Bill

Two cryptocurrency-related provisions addressing anti-money laundering concerns have been removed from the joint version of the National Defense Authorization Act (NDAA), a crucial military-funding bill in the U.S. The provisions aimed to establish an anti-money laundering examination standard for crypto assets and require a report on the use of privacy coins and other “anonymity-enhancing technologies” in crypto. The NDAA, considered a must-pass bill, frequently sees amendments and was seen as a potential pathway for introducing digital-asset regulations this year in the U.S. The removal suggests a setback for immediate cryptocurrency regulatory efforts in the country. (Source: Coindesk)