Digital Asset Anti-Money Laundering Act of 2022

Summary

Digital Asset Anti-Money Laundering Act of 2022 This bill directs specified federal financial agencies to establish rules regarding digital assets. The Financial Crimes Enforcement Network (FinCEN) must establish a rule classifying digital asset wallet providers, cryptocurrency miners, validators, and others as money service businesses. In addition, FinCEN must require U.S. persons to report cryptocurrency transactions through foreign accounts of over $10,000. FinCEN must also require digital asset kiosk owners and administrators to submit and update every three months the physical addresses of the kiosks. The Department of the Treasury must prohibit financial institutions from handling, using, or transacting business with (1) digital asset mixers, privacy coins, and other anonymity-enhancing technologies; and (2) digital assets that have been anonymized by these technologies. Treasury, the Securities and Exchange Commission, and the Commodity Futures Trading Commission must establish risk examination and review processes for anti-money laundering requirements for their respective regulated entities.

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3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 15 December 2022

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• Introduced in Senate (PDF)

  Introduced in Senate · EN · 15 December 2022

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• Introduced in Senate

  summary · EN · 15 December 2022

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