US Defense Bill Removes Crypto AML Rules, Sparks Controversy

The US government has removed two provisions from the National Defense Authorization Act (NDAA) that aimed to address anti-money laundering (AML) concerns related to cryptocurrency. The provisions included the establishment of a review system for crypto activities and combating anonymous crypto transactions. The removal of these provisions comes amidst ongoing discussions and deliberations on money laundering and terrorist financing facilitated through cryptocurrencies.