Promoting Innovation in Blockchain Development Act

Summary

The bill changes 18 U.S.C. §1960(a) by adding the phrase “exercises control over currency, funds, or other value that substitutes for currency, and” to the list of prohibited conduct. This expands the federal money‑laundering statute to cover anyone who knowingly controls such value, which could include digital assets. The change is intended to clarify the law’s reach as blockchain and other new forms of value emerge.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

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