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March 25, 2022

Senator Warren Drafts Bill To Regulate “Digital Asset Transaction Facilitators”

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Senator Elizabeth Warren proposed a bill that would subject cryptocurrency institutions and users to additional oversight. The bill defines a “digital asset transaction facilitator” as “any person, or group of persons, that significantly and materially facilitates the purchase, sale, lending, borrowing, exchange, custody, holding, validation, or creation of digital assets on the account of others, including any communication protocol, decentralized finance technology, smart contract, or other software, including open-source computer code.” (Proposed Bill)

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