The committee is finally working on amendments. An amendment proposed by Senator Mike Rounds to adopt sandboxes for artificial intelligence tools was adopted with a 15-9 vote, meaning it received bipartisan support in the committee despite Warren urging her party to vote no.<\/p>\n
Another amendment, this time by Warren, to “keep risky assets out of retirement accounts” was not adopted on partisan lines, in an 11-13 vote.<\/p>\n
A third amendment, proposed by Senator Katie Britt of Alabama, would let certain types of retirement accounts invest in collective investment vehicles, but was withdrawn prior to a vote.<\/p>\n
The first more contentious amendment might be a Warren proposal to address sanctions authority in the legislation.<\/p>\n
“We need to fix the hole in our sanctions authority and crack down on crypto money laundering in 2022 the United States sanctioned a notorious mixer called tornado cash that have been used to launder more than $7 billion for criminals and foreign adversaries, including more than $450 million for a North Korean hacking group,” she said. “These types of crypto services are designed to make it easy to launder a huge pile of money and making it hard for anyone, including our law enforcement officials, to tell where the money came from.”<\/p>\n
Lummis argued that the bill does address sanctions authority, while Senator John Kennedy of Louisiana asked why the bill does not address Warren’s concerns.<\/p>\n
“It’s the Tornado problem,” Warren said. She argued that the bill as-is does not give the Treasury Department the legal authority to isolate mixers.<\/p>\n
Lummis said titles 2 and 3 address illicit finance.<\/p>\n
This amendment failed 11-13.<\/p>\n","protected":false},"excerpt":{"rendered":"The committee is finally working on amendments. An amendment proposed by Senator Mike Rounds to adopt sandboxes for…\n","protected":false},"author":2,"featured_media":642937,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[27],"tags":[28,268315,209572],"class_list":["post-642936","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-business","tag-clarity-act","tag-market-structure-legislation"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/642936","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/comments?post=642936"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/642936\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media\/642937"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media?parent=642936"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/categories?post=642936"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/tags?post=642936"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}