Meanwhile, this past Tuesday Republican Cynthia Lummis and Democrat Kirsten Gillibrand introduced what many call a “landmark” crypto bill. Named the Responsible Financial Innovations Act, the bipartisan legislation aims to finally clear up the biggest regulatory questions hanging over digital assets.
What does the cansee Act mean for crypto ATMs?
The CANSEE Act would also require operators of crypto kiosks (also known as crypto ATMs) to improve traceability of funds by verifying the identities of each counterparty to each transaction using a kiosk.
Are Senators rallying behind a crypto crackdown?
There’s just one problem: A growing and bipartisan group of senators – including everyone from Sens. Mitt Romney (R-Utah) to Elizabeth Warren (D-Mass.) – is rallying behind a crackdown that crypto firms hate, following a wave of scandals and fears that digital currency is ripe for criminal abuse.
Why should law enforcement care about cryptocurrency?
Our bill will also ensure that law enforcement has access to better information about cryptocurrency transactions, which they need to fight crimes like cross-border drug trafficking, weapons proliferation, and ransomware attacks.
