Senator Elizabeth Warren and a coalition of senators have reignited their criticism of crypto-related fraud and money laundering.
The comments were made during a Senate Banking Committee hearing held on Thursday, with Warren pushing for stricter crypto laws.
Senator Warren’s Fresh Criticism
Warren, who has been highly critical of crypto, alleged that crypto was used for illicit finance and scams during a Senate Banking Community hearing. The senator has been pushing for the Digital Asset Anti-Money Laundering Act over the past year and has gained support from prominent senators, including Senator Lindsey Graham, R-S.C). The proposed legislation seeks to extend the Bank Secrecy Act’s requirements, such as Know Your Customer (KYC), to a broader range of crypto operations. This would be broadened to cover miners, validators, and wallet providers. Warren stated during the hearing,
“This bill would plug the holes in our anti-money laundering rules to make it easier for financi
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