Rulemaking to modernize and strengthen Bank Secrecy Act requirements for decentralized finance services

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Not later than 30 months after the date of enactment of this Act, the Secretary of the Treasury shall issue a rule to— (1) further define the terms decentralized finance service and decentralized smart contract; and (2) expressly require that a decentralized finance service implements and maintains— (A) a risk-based anti-money laundering program that meets the requirements under the Bank Secrecy Act; and (B) a risk-based sanctions compliance program.