Republican Senator Roger Marshall has withdrawn his support for the Digital Asset Anti-Money Laundering Act, a controversial anti-crypto bill he co-sponsored with Elizabeth Warren in 2022. The bill aims to regulate the crypto industry under existing AML and Counter-Terrorist Financing laws by designating various crypto service providers as financial institutions. Critics argue it exaggerates crypto’s role in illegal activities and could harm the US crypto industry. Despite Marshall’s withdrawal, Warren reintroduced the bill in July 2023. She is running for reelection in 2024, with pro-crypto lawyer John Deaton announcing his candidacy to oppose her.

Source: Cointelegraph