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BTCC / BTCC Square / Global Cryptocurrency /
Bipartisan Senators Warn Crypto Bill Could Weaken Money Laundering Enforcement

Bipartisan Senators Warn Crypto Bill Could Weaken Money Laundering Enforcement

Author:
Global Cryptocurrency
Published:
2026-01-19 11:21:01
15
2
BTCCSquare news:

Senate Judiciary leaders Chuck Grassley and Dick Durbin have raised concerns that a provision in Senator Tim Scott's crypto market structure bill may hinder law enforcement's ability to prosecute financial crimes. The disputed clause, Section 604, would exempt certain blockchain developers from financial licensing requirements—a move critics argue creates prosecution gaps for money laundering.

The provision mirrors the Blockchain Regulatory Certainty Act championed by Senators Cynthia Lummis and RON Wyden. In a private letter to Scott and Elizabeth Warren, Grassley and Durbin warned the language could have shielded Tornado Cash's founder from recent money transmission charges. The crypto mixing platform was allegedly used to launder funds, though industry advocates contest the legal interpretation.

Law enforcement officials maintain the bill's exemptions risk creating SAFE harbors for illicit finance. The debate highlights growing tension between regulatory clarity for blockchain innovation and maintaining anti-money laundering safeguards—a balancing act that will shape future crypto legislation.

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