Senator Roger Marshall, along with Senator Elizabeth Warren and others, reintroduced the Digital Asset Anti-Money Laundering Act of 2023. The legislation would classify certain industry participants, including individual miners and validators, as financial institutions subject to the Bank Secrecy Act compliance regime. Treating these entities commensurate with the largest banks, hedge funds, and money transmitters would weigh them down with unnecessary compliance, stifle innovation, hinder industry growth, and force activity offshore to jurisdictions with less adequate security and oversight.