US Senator Jack Reed sponsored a bipartisan invoice launched within the Senate on July 18 that will strengthen Know Your Buyer (KYC) and Anti-Cash Laundering (AML) rules and sanctions for decentralized finance (DeFi). In response to a press launch on Reed’s web site, the invoice is title the Crypto-Asset Nationwide Safety Strengthening and Enforcement Act (CANSEE).
The invoice would topic DeFi operations to the identical necessities as “different monetary corporations, together with centralized crypto buying and selling platforms, casinos, and even pawnshops.” The invoice would make “whoever controls this mission” accountable for using the DeFi service by sanctioned people. Moreover:
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