A new bill introduced into the US Senate proposes to tighten Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations for decentralized finance (DeFi) services. 

The Crypto-Asset National Security Enhancement and Enforcement (CANSEE) Act aims to prevent money laundering, stop crypto-facilitated crime and sanctions violations, and ensure that DeFi services meet the same AML and economic sanctions compliance as other financial companies, including centralized crypto trading platforms, casinos, and pawn shops.

New CANSEE Act Brings DeFi Services Under Same Rules As Banks 

According to the press release, DeFi applications are designed to facilitate peer-to-peer financial transactions recorded on blockchains, providing anonymity that enables malicious and criminal …