GM fellow money launderers, let’s start the week with some great news.

The House has passed the „Financial Technology Protection Act of 2023“, which will establish an „independent working group“ consisting of representatives from the CIA, the Department of Homeland Security, and the FBI as well as representatives from „Blockchain Intelligence“ to report on and propose regulation and legislation to combat the use of „digital assets and other relating technologies“ in money laundering and terrorist financing.

The Bill aims to „provide a forum for engagement between federal law enforcement and intelligence professionals, and private sector technologists and researchers“ – It’s primary concerns lie "with digital asset platforms that have 'substantially deficient' anti-money laundering programs that operate outside of the U.S.".

In case it isn't clear, the Financial Technology Protection Act is the fox guarding the hen house. If the Bill becomes law, we should all get ready for some extraordinarily „independent“ findings on the use of Bitcoin in money laundering and terrorism.

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