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The Week in Crypto Policy: E&C Advances 2 Bills; More AML/CFT
This week, a House committee unanimously advanced two pro-blockchain bills, while four Senators proposed another bill aimed at combatting illicit finance.
Key Insights
- The House Energy and Commerce Committee voted unanimously to advance two bills aimed at promoting blockchain technology in the U.S.
- Senators Mark Warner (D-VA), Jack Reed (D-RI), Mitt Romney (R-UT), and Mike Rounds (R-SD) introduced a bill to expand Treasury's power to sanction foreign parties - including persons who operate, control, or make available a digital asset protocol - if they facilitate transactions with terrorists.
- Crypto-related amendments were not included in the final NDAA bill.
- House Financial Services Committee will need a new Republican leader in 2025, as current Chairman Patrick McHenry announced he will not be seeking reelection.
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George Leonardo is the founder of Cap Hill Crypto, a solo-entrepreneur venture focused on providing nonpartisan insights and analysis on U.S. federal crypto policy. Previously, he worked on Capitol Hill for Senator John Cornyn and as a litigation associate at Milbank LLP.