The Unites States Senate Judiciary Committee is maintaining bill S.1241 which will control ownership of a financial account and financial institution and criminalize its non-disclosure, now including ownership of cryptocurrency and maintaining cryptoexchanges.
Section 5312(a) of title 31, United States Code, is amended— in paragraph K by inserting “prepaid access devices, digital currency,” after “money orders,”; and by inserting before the semicolon at the end the following: “, or any digital exchanger or tumbler of digital currency”.
Combating Money Laundering, Terrorist Financing, and Counterfeiting Act of 2017
The amendments towards the definition of a 'financial institution' in the United States Code are also included.
Financial institution - an issuer, redeemer, or cashier of prepaid access devices, digital currency, or any digital exchanger or tumbler of digital currency.
United States Code
The abovementioned law may be enforced in order to make changes to existing Anti-Money Laundering laws, which are legal standards regulating the processes of preventing, detecting and reporting instances of money laundering by businesses and financial institutions.
If the bill will actually be imposed it might have a very unexpected and forceful effect on the users of cryptocurrency inside the US as well as the whole world crypto-community.