Law Decoded: Of AML and appointees, Nov. 6-13

At the same time, crypto exchanges have been stepping up their compliance with new anti-money laundering regimes, one of the most resilient criticisms that governments level at the entire industry.

While these crypto developments have made for some huge announcements for Cointelegraph's readership, it has rubbed a number of the Democrats on the House Financial Services Committee the wrong way.

Several signed onto a letter effectively telling Brooks to slow his roll on crypto guidance for major institutions in favor of work to bank the unbanked.

The big news for crypto here is that Gensler teaches on blockchain and digital currency at MIT, making him likely the first person advising an incoming president with his degree of expertise in the area.

While Gensler's familiarity with crypto is obviously a plus, his priorities have historically suggested that he will be more assertive with regulating industry, likely continuing an existing charge to stamp out openings for money laundering on crypto platforms.

While the Trump administration has a reputation for rolling back a lot of financial regulation writ large, his appointees have been fairly dogged in rounding up crypto exchanges.

At the beginning of the year, the Netherlands announced new measures to comply with Europe's new Anti-Money Laundering Directive 5, leading to a minor exodus of crypto firms.

The new requirements include registration for all crypto service providers, due at the end of the year.

It's a controversial requirement, especially given the crypto community's long-standing attachment to privacy.

Blockchain Association leader Kristin Smith talks crypto and a Biden administration with Circle's Jeremy Allaire.