Elizabeth Warren Policy. Photo: Getty Images/Drew Angerer.It is not new that Senator Elizabeth Warren makes unfounded criticism of Bitcoin and other cryptocurrencies, especially on the issue of allegedly being tools for criminal activities. cryptocurrencies by Russian oligarchs to avoid sanctions, but didn’t let Jonathan Levin, co-founder of Chainalysis, finish responding. See the subtitled video below: After this brief discussion, which could lead the senator to understand why she was wrong about cryptocurrencies , she starts to ask questions to those who already agree with her vision and concludes:
“So no one can argue that Russia can avoid all sanctions by moving all its assets to cryptocurrencies. But for Putin’s oligarchs, who are going to try to hide, you know, a billion or two, a few hundred million, cryptocurrencies seem like a very good option. And that’s why today I’m introducing my Digital Asset Sanctions Compliance Enhancement Act.”
As we previously reported, your bill targets cryptocurrency wallet developers, as well as exchanges and other market participants. According to the executives of the Coin Center, specialists in the legal area that covers cryptoassets, it is an unnecessary, exaggerated and unconstitutional project. felt ashamed.Willy Woo’s Opinion on the American Lawmaker’s Attitude It’s not uncommon for lawmakers to be out of date and misinformed on diverse issues when trying to write a law that affects the lives of millions of people, and this is just another case. was not aware of the latest US Treasury report, which studied the key concerns of the use of crypto for money laundering, terrorist financing, and the financing of weapons proliferation. These were some of her conclusions:
“The use of virtual assets for money laundering remains far below fiat currency and more traditional methods.”–The 2022 National Money Laundering Risk Assessment, page 41
“Terrorist use of virtual assets appears to remain limited when compared to other financial products and services.”–The 2022 National Terrorist Financing Risk Assessment, page 23
“There is no evidence that a proliferation network used a virtual asset to acquire a specific proliferation-sensitive good or technology. [de armas]…”–The 2022 National Proliferation Financing Risk Assessment, page 29
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