On July 27, the United States Senate approved the National Defense Authorization Act (NDAA) for the fiscal year 2024, which amounts to $886 billion. The bill includes a significant provision aimed at crypto mixers, privacy-focused digital currencies, and financial institutions participating in cryptocurrency transactions. The amendment proposed by a group of senators requires the implementation of examination standards for cryptocurrencies to assess inherent risks and prevent money laundering. Additionally, the NDAA amendment commands the Treasury Department to conduct a study to unmask anonymous crypto transactions, focusing on crypto mixers like Tornado Cash.
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US Senate Approves $886 Billion Defense Bill with Stipulations Targeting Crypto Mixers and Privacy-Focused Digital Currencies
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