The bill, introduced by Sen. Jack Reed, D-R.I., would place liability on those who control DeFi projects if laws are broken.Stay updated on Pro Crypto Ecosystems news by locking ACS tokens with The Block.No wallet? No problem. You can set one up for free. We recommend Torus for first-time users.A bipartisan group of senators introduced a bill to tighten existing rules aimed at combating money laundering and sanctions evasion by making specific how they apply to decentralized finance.
The Crypto-Asset National Security Enhancement and Enforcement Act, introduced on Tuesday, also aims to strengthen the Treasury Department's ability to enforce those rules with DeFi projects. “This legislation bolsters the Treasury Department’s tools to protect our national and economic security. Drug cartels, sex traffickers, and the like shouldn’t be able to use DeFi platforms to avoid justice – their victims deserve better,” said Sen. Jack Reed, D-R.I., who introduced the bill and is a member of the Senate Banking Committee, said in a statement.
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