US House Passes Bill to Create Working Group on Crypto Use in Terrorism and Money Laundering
The U.S. House of Representatives has passed a bill to establish a government working group to investigate the use of digital assets in terrorism and money laundering. However, the legislation is unlikely to become law without a Senate counterpart. Industry representatives have also reached out to Vice President Kamala Harris, urging her to embrace cryptocurrency as a presidential candidate. Despite the growing prominence of crypto in the political arena, the likelihood of a regulatory approach to the industry being agreed upon by a narrowly divided Congress remains slim.
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