New rules would target illegal money laundering and cyber threats in crypto services.
To fight illegal money laundering and cyber threats, this bill would set new rules for decentralized finance services, also known as 'crypto' services. It would create a temporary program for government experts and crypto companies to work together on better security and compliance tools. Ultimately, these services would need to follow clearer rules to prevent illegal activities.
Today, decentralized finance services may be subject to anti-money laundering laws, but there's no clear, standardized way for them to comply, leading to cybersecurity risks. If this bill becomes law, the Treasury Department would first launch a temporary program to explore new compliance tools with crypto companies. Within 30 months, the Treasury Secretary would issue a new rule. This rule would require these services to implement specific risk-based anti-money laundering and sanctions programs, creating clearer and more consistent industry requirements.
HR 4394 · 119th Congress · July 15, 2025 · AI Summary by gemini-2.5-flash · 8/10
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5 filings mentioned this bill
Amounts reflect total quarterly lobbying spend reported to the Senate, not bill-specific spending. Source: Senate LDA filings.