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Sources: U.S. Senate Banking Committee not ready to take immediate action on crypto money laundering bill

Insiders familiar with the committee's plans revealed that the US Senate Banking Committee is not yet ready to take immediate action on a series of anti-money laundering proposals related to cryptocurrencies, including legislation proposed by Senator Elizabeth Warren, one of the Senate's biggest cryptocurrency critics.

Sources say that some Democrats on the Senate Banking Committee have been pushing for legislation to address what they see as dangerous loopholes in the use of cryptocurrencies by criminals and terrorists, but the group is currently focused on other priorities and has not turned to cryptocurrency legislation.

Even if Warren's bill is approved at the committee level, it may require bipartisan momentum to clear the heavily divided Senate.

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