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US AML Changes Definitions in BSA to Include Artifacts, Artwork

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The US legislature recently enacted the National Defense Authorization Act (NDAA). Within the NDAA there is a series of regulations known as the Anti-Money Laundering Act (AML). Following the enactment of the Anti-Money Laundering Act (AML), the U.S. Congress introduced several key reforms to AML law. The AML changed the definition in the BSA to include artefacts, works of art and cryptocurrencies. As a result, the ban imposed by the BSA now also applies to transactions mediated by institutions dealing in cryptocurrencies and antiques. Those who use such assets to launder money could face the same penalties as those who try to hide fiat currency.
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