The U.S. Senate plans to pass a new cryptocurrency regulation bill that imposes strict anti-money laundering requirements on DeFi protocols

ChainCatcher news, according to Coindesk, the U.S. Senate is preparing to pass a new bill to regulate the cryptocurrency industry, titled the Crypto-Asset National Security Enhancement Act of 2023, which will require DeFi protocols to implement bank-like controls over their user base.

It is reported that the briefing document states, "If no one controls the DeFi protocol, then anyone investing more than $25 million to develop that protocol will assume these obligations. These controlling entities need to review and collect information about their customers, maintain anti-money laundering programs, report suspicious activities to the government, and prevent sanctioned individuals from using their protocols." (source link)