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Digital Asset Anti-Money Laundering: New Rules for Crypto Miners and Wallets.

This law extends strict anti-money laundering rules to nearly all digital asset participants, including crypto miners, validators, and unhosted wallet providers. Citizens should expect mandatory identity verification when using crypto ATMs (kiosks). Additionally, U.S. persons holding over $10,000 in digital assets abroad will face new reporting requirements.
Key points
Most crypto entities, including miners and wallet providers, will be treated as financial institutions, requiring mandatory customer identity checks (KYC).
Mandatory identity verification and counterparty data collection when using digital asset kiosks (crypto ATMs).
Financial institutions must establish controls to mitigate risks associated with anonymity-enhancing tools like crypto mixers.
New requirement for U.S. persons to report foreign holdings of digital assets exceeding $10,000 to the Treasury.
article Official text account_balance Process page
Expired
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Additional Information
Print number: 118_S_2669
Sponsor: Sen. Warren, Elizabeth [D-MA]
Process start date: 2023-07-27
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash-preview-09-2025
Source data: api.congress.gov
AI work logs for this document launch

OFFICIAL LEGAL TITLE

Digital Asset Anti-Money Laundering Act of 2023

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_S_2669.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2023-07-27.

What are the main provisions?

Key points include:

  • Most crypto entities, including miners and wallet providers, will be treated as financial institutions, requiring mandatory customer identity checks (KYC).
  • Mandatory identity verification and counterparty data collection when using digital asset kiosks (crypto ATMs).
  • Financial institutions must establish controls to mitigate risks associated with anonymity-enhancing tools like crypto mixers.
  • New requirement for U.S. persons to report foreign holdings of digital assets exceeding $10,000 to the Treasury.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Sen. Warren, Elizabeth [D-MA].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-26.

CATEGORIES

Economy Courts and Law Security