U.S. Senator Elizabeth Warren pledged at a Senate hearing on Tuesday to reintroduce a bill to tighten anti-money laundering rules for cryptocurrency companies, adding guardrails for the industry.

Warren plans to reintroduce legislation with Senator Roger Marshall to expand anti-money laundering laws to broad areas of the cryptocurrency ecosystem, including digital asset wallet providers, miners, validators and other blockchain network participants, saying current anti-money laundering rules do not adequately apply to crypto companies.

The original version of the bill introduced by Warren and Marshall last December would also have prohibited banks and other financial institutions from transacting with digital asset mixers. If introduced in the same form as last December, the bill would also expand anti-money laundering reporting requirements to include Americans who trade $10,000 or more in digital assets using offshore accounts and require the Treasury Department to conduct anti-money laundering compliance reviews of money service businesses. (The Block)