Nine United States Senators have added their support to Senator Elizabeth Warren’s Digital Asset Anti-Money Laundering Act, according to a statement from Warren’s office.
The press release on Warren’s official senate webpage names Democratic Party Senators Gary Peters, Dick Durbin, Tina Smith, Jeanne Shaheen, Bob Casey, Richard Blumenthal, Michael Bennet and Catherine Cortez Masto, along with independent Senator Angus King, as those who joined the bipartisan coalition supporting the bill. Peters is the chair of the Senate Homeland Security and Governmental Affairs Committee, while Durbin is the chair of the Senate Judiciary Committee.
Warren herself welcomed the new bill supporters, stating:
“Our expanding coalition shows that Congress is ready to take action – our bipartisan bill is the toughest proposal on the table cracking down on crypto’s illicit use and giving regulators more tools in their toolbox.”
This bill has also been endorsed by Transparency International U.S., Global Financial Integrity, the National District Attorneys Association, the Major County Sheriffs of America, the National Consumer Law Center and the National Consumers League.
Warren reintroduced the Digital Asset Anti-Money Laundering Act, along with Senators Joe Manchin, Roger Marshall and Lindsey Graham, in July 2023. In the current version, the document intends to crack down on noncustodial digital wallets, extend Bank Secrecy Act responsibilities, establish an Anti-Money Laundering/Combating the Financing of Terrorism compliance examination and other legal measures to fight the illicit use of digital money.
Warren believes there is a “$50 billion crypto tax gap,” with the Internal Revenue Service and U.S. Treasury risking missing out on roughly $1.5 billion in tax revenue for the 2024 financial year if a tax policy update is delayed.
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Not investigating Operation Chokepoint 2.0 would create a dangerous precedent where regulatory bodies can suppress whoever they disfavor, Deaton stressed.
Reform UK is a party that’s vying for attention and is not ashamed of how it gets it.
With political support from Elon Musk this week amplifying Reform UK talking points on his platform X, the party has been able to make a splash in the new year ahead of the government.
Already this month the party has had two conferences in two days, and with only a handful of MPs there is opportunity for all of them to speak. With one notable exception – James McMurdock MP.
Despite being the MP for South Basildon and East Thurrock, he isn’t on the schedule for the East of England conference, with Sky News initially told he wasn’t planning on attending.
When it emerged last July that he had been jailed for attacking someone, he downplayed the incident as a “teenage indiscretion”.
When spotted strolling around the conference on Saturday, Sky News asked Mr McMurdock whether he regretted that term.
The MP would not apologise for the phrase and said he hadn’t lied or ever changed his story.
“I would like to do my best to do as little harm to everyone else and at the same time accept that I was a bad person for a moment back then,” he said.
“I’m doing my best to manage the fact that something really regrettable did happen.”
The MP also wouldn’t say whether the party knew about his conviction prior to becoming a candidate, but leader Nigel Farage has previously said he “wasn’t vetted”.
Mr McMurdock still has not been suspended for the conflicting accounts of what happened and the party hasn’t commented on whether he would pass their new vetting system which they say is now in place for new council candidates.
While speaking to Sky News, Mr McMurdock said he would support that motion, though no Reform MP voted for it in an early day motion when it was laid in parliament.