US Senator Elizabeth Warren said any new crypto regulation, including the newly proposed regulatory framework for the stablecoin market, must include the full suite of anti-money laundering authorities that the Treasury Department requested in November 2023.
In an April 16 letter addressed to US Treasury Secretary Janet Yellen, Senator Warren articulated her stance and advocated for the extension of Anti-Money Laundering/Combating the Financing of Terrorism (AML/CFT) obligations to cover miners, validators, and DeFi intermediaries alongside stablecoin issuers.
Warren’s argument
According to her, any regulatory frameworks for stablecoins would fold the sector “deeper into the banking system [and] will supercharge trading in the crypto market, exploding the opportunities for terrorists and other bad actors to exploit those financing channels to both evade sanctions and receive a limitless stream of untraceable income.”
Senator Warren further emphasized cryptocurrencies’ perceived
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