U.S. Senators Elizabeth Warren and Roger Marshall have introduced a bill that imposes stricter regulations surrounding crypto laundering and terrorist financing via crypto, according to reports by CoinDesk.

If it becomes law, crypto companies will be required to abide by know-your-customer rules and financial institutions will be prohibited from making transactions with digital asset mixers.

The law also allows rules requiring companies to report transactions involving unhosted wallets.

Author: Katie Lin