from Great Game India:
In 2022, Massachusetts Senator Elizabeth Warren authored a bill that would require cryptocurrency wallet providers to comply with bank Anti-Money Laundering rules. Not crypto exchanges, mind you, but the wallets themselves. Kansas Senator Roger Marshall joined her on the proposal as a co-sponsor.
TRUTH LIVES on at https://sgtreport.tv/
Sadly, Marshall betrayed the populist principles he ran on as a candidate. The bill also betrayed the civil liberties and privacy tenets of progressivism that Warren espouses.
The Warren bill would require that anyone who designs a crypto wallet (a computer program designed to store the encryption code that helps to keep your crypto tokens secure) register as a money services business and, essentially, be regulated like a financial institution.
This means that any computer programmer entrepreneur who writes code to help customers control crypto investments from their phone — and to help keep the crypto secure from hackers — would need to register with the Treasury Department as if they were Western Union. Good luck with that, crypto startups.
