Crypto Provisions Dropped From 2023 U.S. Defense Bill

Two crypto provisions addressing anti-money-laundering concerns were dropped from a joint version of the National Defense Authorization Act, a military-funding bill viewed as must-pass legislation, ending a backdoor effort to get digital-asset rules passed this year in the U.S. According to a joint bill published Thursday by lawmakers from the U.S. House and Senate, provisions that would create an anti-money-laundering examination standard for crypto assets and require a report analyzing the use of privacy coins or other "anonymity-enhancing technologies" in crypto were dropped. The NDAA details the military budget for the upcoming year.

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