Lawmakers have removed crypto provisions from the 2024 National Defense Authorization Act as it heads to a final vote.
The 2024 National Defense Authorization Act heads to near-certain approval without new rules on cryptocurrencies after negotiators stripped the crypto language to ease passage in both chambers.
Despite the legislation retaining broad provisions on existing security programs, it steers clear from extending regulatory oversight to digital assets. This decision defers any potential new cryptocurrency regulations to possible future congressional action.
According to the Senate Armed Services Committee, the bill omits a Senate amendment that would have required the Treasury Secretary to establish a review process assessing financial institutions’ cryptocurrency money laundering controls and compliance.
Another dropped Senate proposal would have compelled the Treasury Secretary to submit a report and briefing to congressional committees, evaluating technologies enabling an
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