US regulators continue to discuss crypto: Law Decoded, Nov. 13

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US regulators continue to discuss crypto: Law Decoded, Nov. 13–20

Published Nov 20, 2023 04:00PM ET Updated Nov 20, 2023 05:40PM ET

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US regulators continue to discuss crypto: Law Decoded, Nov. 13–20

The United States House Financial Services Subcommittee on Digital Assets, Financial Technology and Inclusion received an education in the uses of blockchain technology in a hearing titled “Crypto Crime in Context: Breaking Down the Illicit Activity in Digital Assets.” The meeting began with a discussion of Hamas’s use of crypto for fundraising. However, the committee’s Chair, Representative French Hill, declared that as “phone and the internet aren’t to be blamed for terror financing,” crypto shouldn’t be either. The witnesses, including representatives from Consensys and Chainalysis, spoke about the need for international and public-private collaboration in stopping the misuse of digital assets, the need for well-crafted legislation and the intricacies of blockchain sleuthing.

At another hearing held by the Senate Special Committee on Aging, U.S. Senator Elizabeth Warren highlighted the dangers of cryptocurrency scams. Steve Weisman, a recognized expert on scams and cybersecurity as described by Warren, confirmed that unlike credit card fraud, which can be swiftly identified, stopped and traced, crypto poses greater challenges with transparency. Weisman expressed support for Warren’s Digital Asset Anti-Money Laundering Act, which seeks to ensure that digital assets are subject to the same Anti-Money Laundering laws as traditional fiat currency.

Vivek Ramaswamy criticizes mixer sanctions in his crypto program

Australia will impose a capital gains tax on wrapped tokens

Democratic Party of South Korea obliges its candidates to disclose crypto holdings

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Otobong Isaac Nov 20, 2023 7:23PM ET

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