The Chamber of Digital Commerce claimed Senators Elizabeth Warren and Sherrod Brown were “trying to kill the entire industry” with the Digital Asset Anti-Money Laundering Act.
The Chamber of Digital Commerce (CDC), a United States-based crypto advocacy group, has urged the chair of the Senate Banking Committee not to consider an Anti-Money Laundering bill that has received criticism from many in the industry.
In a Feb. 20 X post, the CDC claimed Senator Elizabeth Warren and Senate Banking Committee Chair Sherrod Brown were “trying to kill the entire [digital asset] industry” by considering the Digital Asset Anti-Money Laundering Act (DAAMLA). The Senate Banking Committee will hold hearings to potentially consider the bill, which CDC founder and CEO Perianne Boring branded as a “clear and present danger to U.S. national security and the broader economy” in a letter to Brown.
“This bill, if passed, will erase hundreds of billions of dollars in value for U.S. start-ups and decimate the savings of countless Americans invested in this asset class legally,” said Boring. “[It] represents an effective prohibition on digital assets, setting forth compliance requirements that are not only impractical but also unattainable for organizations tasked with securing blockchain infrastructure.”
