U.S. Senator Roger Marshall has revealed that the American Bankers Association played a role in formulating the Digital Asset Anti-Money Laundering Act, a controversial bill that has faced criticism from the cryptocurrency community. During a speech, Marshall stated that the association helped craft the legislation to ensure that cryptocurrencies are held to the same standards as traditional banks. This disclosure has sparked backlash from various crypto stakeholders, with Coinbase CEO Brian Armstrong expressing disappointment in lawmakers advocating for banks. The bill has gained support from several U.S. lawmakers and Wall Street banks who seek enhanced regulatory oversight for the crypto industry.

Senator Elizabeth Warren, who has been critical of cryptocurrencies, recently wrote that crypto companies were employing former defense and law enforcement officials to lobby against new regulations. This statement received backlash from the crypto community, with Galaxy Digital CEO Mike Novogratz describing Warren as someone who seeks headlines. Additionally, Pierre Rochard, the Research VP of Riot Platforms, criticized Warren’s statement as an attack on the First Amendment. Ripple CTO David Schwartz also expressed anger at Warren’s stance.

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Information	Details
Geography	North America
Countries
Sentiment	negative
Relevance Score	1
People	Brian Armstrong, Mike Novogratz, Elizabeth Warren, Roger Marshall, Sam Lyman
Companies	Riot Platforms, Coinbase, American Bankers Association, US lawmakers, Galaxy Digital
Currencies	Bitcoin
Securities	None