Senator Elizabeth Warren's Digital Asset Anti-Money Laundering Act is gaining traction in Congress, despite Warren's low bill enactment rate.
During her 11-year tenure, Warren has introduced 330 bills, but only 11 have been enacted, including minor inclusions in other bills.
The bill, reintroduced in July, seeks to close money laundering loopholes in cryptocurrency, classifying various crypto entities as regulated financial institutions.
While the bill has bipartisan support, critics argue it could effectively ban cryptocurrencies in the U.S. by imposing unrealistic compliance demands on decentralised entities.