Senator Warren addresses worries about the funding of terrorists by addressing cryptocurrency relationships with former defense officials.
A group of former officials from the departments of defense, national security, and law enforcement have formed an unsettling alliance with cryptocurrency interests, and Senator Elizabeth Warren is speaking out against it.
This is an attempt to halt the bipartisan efforts of Congress and the Biden administration to control the use of crypto for terrorist organizations’ fundraising, such as Hamas.
Warren recently sent a letter to the Blockchain Association’s CEO, Kristin Smith, in which she strongly condemned the use of former government officials to advocate for crypto legislation.
“I am writing to express my concern about a disturbing new revelation that suggests your group and other crypto interests are using a tiny army of former military, national security, and law enforcement personnel” to further their goals.
Warren emphasized that the information came after the Hamas assault in Israel, suggesting crypto’s potential role in supporting terrorist actions.
According to her, Changpeng “CZ” Zhao, CEO of Binance, admitted guilt on charges related to the failure to prohibit transactions associated with terrorist organizations, such as Hamas.
As a result of these disclosures, she said, lawmakers in Congress have submitted bills to close gaps in anti-money laundering regulations that criminals in the cryptocurrency industry are using.
She says the crypto business is responding by actively working to prevent any attempts at regulation. It also claims that it has been using ex-government officials in its strategy. It further claims that prominent personalities such as Frances Townsend, a counterterrorism advisor, and Mark Esper, a former defense secretary, were featured on Coinbase and at the Blockchain Association.
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