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U.S. Senate holds meeting on money laundering bill

Accepted submission by Anonymous Coward at 2017-12-02 22:16:23 from the all-your-coin-are-belong-to-us dept.
Digital Liberty

In May, the bill S.1241 [] (archive []) was introduced [] in the U.S. Senate by Chuck Grassley [], a Democratic senator from Iowa. The bill, if enacted, would call upon the Department of Homeland Security to develop

a strategy to interdict and detect prepaid access devices, digital currencies, or other similar instruments, at border crossings and other ports of entry for the United States

According to a story at [] (square brackets in original),

the bill would “criminalize [those] intentionally concealing ownership or control of a [digital currency or digital exchange] account.

The Senate held a meeting [] about the bill on November 28. Witnesses included Charles Davidson of the Kleptocracy Initiative of the Hudson Institute [] conservative think tank; Douglas Farah of IBI Consultants [], which specializes in "issues of national security, transnational crime, terrorism, terror finance and non-state armed actors"; and Kathryn Haun Rodriguez of Coinbase [], a cryptocurrency exchange. Ms. Haun, however, made no mention of cryptocurrency in her testimony [] (PDF).

Original Submission