"Controversial Provisions Stripped from 2023 Defense Bill, Sparking Outrage"

Two crypto provisions addressing anti-money-laundering concerns have been dropped from the joint version of the National Defense Authorization Act, a military-funding bill in the U.S. The provisions aimed to establish an anti-money-laundering examination standard for crypto assets and analyze the use of privacy coins and anonymity-enhancing technologies. The House of Representatives version of the bill did not include these provisions, and their removal ends the backdoor effort to pass digital-asset rules this year. However, a separate bill has been introduced to expand U.S. sanctions rules on parties facilitating financial transactions with terrorists, particularly foreign digital asset companies.