Senate bill requires crypto industry to transform to identify users, industry insiders believe the bill has little chance of passing

Odaily News A section of a Senate bill aimed at funding U.S. intelligence operations borrows from a previous bill aimed at preventing the use of cryptocurrencies to support terrorism, according to sources. The provision could require a massive transformation of the crypto industry to identify users to prevent sanctions that could stifle digital asset businesses. If the bill becomes law, it would be the most significant crypto policy passed in the United States to date - and its merits have not yet caused major controversy. Conversations indicate that the matter is still under discussion as the spending package moves forward, awaiting broader Senate consideration and possible inclusion in the must-pass National Defense Authorization Act (NDAA). But industry insiders believe the bill has limited chances of survival.