Sens. Warren, Marshall Delay Reintroducing Crypto Bill Due to Lack of Sponsors

The latest version of the bill text, which has not been publicly released, includes the same language opponents originally found troubling, according to documents obtained by Blockworks

article-image

Senator Elizabeth Warren | Maverick Pictures/Shutterstock modified by Blockworks

share

Senators Elizabeth Warren, D-Mass., and Roger Marshall, R-Kan., have pushed back reintroducing their crypto anti-money laundering bill in an effort to recruit more cosponsors, according to two people familiar with the matter. 

The bill, which was first introduced in the Senate last session in December, looks to require the crypto industry, including individual miners and validators, to abide by know-your-customer (KYC) rules. 

Industry members were expecting a revamped version of the bill to debut on the floor this week, but two insiders shared with Blockworks that the senators have delayed its reintroduction because they want to find more cosponsors.

Read moreCrypto Bills Didn’t Die Last Session: Lawmakers Plot Reintroductions

The latest version of the bill text, which has not been publicly released, includes the same language opponents originally found troubling, according to documents obtained by Blockworks.

The following groups will be responsible for adhering to KYC policies: “unhosted wallet providers, digital asset miners, validators, or other nodes that may act to validate or secure third-party transactions, independent network participants, including maximal extractable value searchers, miner extractable value searchers, and other validators or network participants with control over network protocols,” per the documents. 

Warren announced in early 2023 that the bill would be making the rounds again, highlighting heightened concerns about increased hacks and illicit actors overseas.  

“Roger Marshall and I are reintroducing our anti-money laundering bill to clamp down on crypto crime and give regulators the tools they need to stop the flow of crypto to drug traffickers and places like North Korea,” Warren said during a Senate Banking Committee hearing in February

Bill opponents argue the legislation goes too far; the expectations being put on the industry are unattainable, crypto advocacy group the Chamber of Digital Commerce said earlier this week in response to the bill. 

The proposed law “​​aims to eradicate digital asset innovation from the United States at the expense of market security by imposing impractical and unworkable compliance burdens on industry participants,” the Chamber of Digital Commerce said in their statement. 

Representatives from Warren and Marshall did not respond to Blockworks’ request for comment.


Start your day with top crypto insights from David Canellis and Katherine Ross. Subscribe to the Empire newsletter.

Explore the growing intersection between crypto, macroeconomics, policy and finance with Ben Strack, Casey Wagner and Felix Jauvin. Subscribe to the Forward Guidance newsletter.

Get alpha directly in your inbox with the 0xResearch newsletter — market highlights, charts, degen trade ideas, governance updates, and more.

The Lightspeed newsletter is all things Solana, in your inbox, every day. Subscribe to daily Solana news from Jack Kubinec and Jeff Albus.

Tags

Upcoming Events

Javits Center North | 445 11th Ave

Tues - Thurs, March 18 - 20, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

Brooklyn, NY

TUES - THURS, JUNE 24 - 26, 2025

Permissionless IV serves as the definitive gathering for crypto’s technical founders, developers, and builders to come together and create the future.If you’re ready to shape the future of crypto, Permissionless IV is where it happens.

recent research

LTIPPanalysis.png

Research

This report is a retroactive analysis of Arbitrum's Long Term Incentives Pilot Program (LTIPP). We collect relevant data at a protocol level and review bi-weekly updates to analyze recipients, their strategies, and the impact of the incentives on high level growth metrics. In particular, we want to highlight outperformers and underperformers, and glean any best practices or lessons learned for protocols distributing ARB incentives in the future. The overarching goal is to synthesize lessons learned that the DAO can reference as it begins thinking about future incentives programs–namely, the working group for incentives that is being actively discussed–especially as Timeboost introduces new conditions for trading and economic activity.

article-image

Ledn’s John Glover gives some price targets to watch for bitcoin

article-image

Sponsored

AI project Zerebro intersects the spheres of artificial intelligence, finance, art, music, and culture

article-image

Allmight is focused on furthering the United States’ leadership in crypto

article-image

The conditions Charles Schwab is waiting for before jumping headfirst into crypto could take shape soon

article-image

The FCA’s director of payments and digital assets shared some takeaways from chats with crypto companies and law firms

article-image

Let’s take a look at how US equities typically perform this time of year and what we might see in the coming days