{"id":11978,"date":"2024-03-26T11:34:44","date_gmt":"2024-03-26T09:34:44","guid":{"rendered":"https:\/\/forklog.com\/en\/elizabeth-warren-labels-cryptocurrency-a-tool-for-fraudsters\/"},"modified":"2024-03-26T11:34:44","modified_gmt":"2024-03-26T09:34:44","slug":"elizabeth-warren-labels-cryptocurrency-a-tool-for-fraudsters","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/elizabeth-warren-labels-cryptocurrency-a-tool-for-fraudsters\/","title":{"rendered":"Elizabeth Warren Labels Cryptocurrency a Tool for Fraudsters"},"content":{"rendered":"<p>Cryptocurrency aids rogue states, terrorists, and criminal organizations on an unprecedented scale, according to Senator Elizabeth Warren during a hearing in the Senate Armed Services Committee. <a href=\"https:\/\/www.warren.senate.gov\/newsroom\/press-releases\/icymi-at-hearing-warren-warns-of-threats-posed-by-north-koreas-crypto-funded-weapons-program-and-pig-butchering-scams-to-national-security\">She stated<\/a> this in her remarks.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>\u201cCryptocurrency is a way to fund these things. It helps rogue states, terrorists, and criminal organizations sustain their operations,\u201d<\/em> she declared.<\/p>\n<\/blockquote>\n<p>Warren was joined by Admiral John C. Aquilino of the U.S. Indo-Pacific Command and General Paul J. LaCamera, who leads U.S. forces in South Korea.<\/p>\n<p>According to the latter, in 2023, fraudulent schemes known as <a href=\"https:\/\/ru.wikipedia.org\/wiki\/%D0%97%D0%B0%D0%B1%D0%BE%D0%B9_%D1%81%D0%B2%D0%B8%D0%BD%D0%B5%D0%B9_(%D0%BC%D0%BE%D1%88%D0%B5%D0%BD%D0%BD%D0%B8%D1%87%D0%B5%D1%81%D1%82%D0%B2%D0%BE)\">\u201cpig butchering\u201d<\/a> involving digital assets resulted in $3.5 billion in damages, affecting over 40,000 Americans.<\/p>\n<p>The participants concluded that combating crypto crime strengthens international security.<\/p>\n<p>The hearings were organized to advance Warren&#8217;s proposed legislation, which she claims will \u201cput an end\u201d to the mentioned threats. The document proposes the introduction of <span data-descr=\"Know Your Customer\" class=\"old_tooltip\">KYC<\/span> procedures for \u201cwallets, miners, validators, and other network participants.\u201d<\/p>\n<p>Back in December 2023, five senators supported Warren&#8217;s proposed bill, which was <a href=\"https:\/\/forklog.com\/en\/news\/coinbase-criticizes-us-authorities-for-manipulating-cryptocurrency-facts\">criticized<\/a> by the community.<\/p>\n<p>Earlier, the Congresswoman <a href=\"https:\/\/forklog.com\/en\/news\/elizabeth-warren-advocates-for-equal-rules-for-crypto-startups-and-tech-giants\">advocated<\/a> for restrictions on tech giants in developing AI models and for compelling crypto companies to adhere to rules applied to <span data-descr=\"traditional finance\" class=\"old_tooltip\">TradFi<\/span>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Cryptocurrency aids rogue states, terrorists, and criminal organizations on an unprecedented scale, according to Senator Elizabeth Warren during a hearing in the Senate Armed Services Committee. She stated this in her remarks. \u201cCryptocurrency is a way to fund these things. It helps rogue states, terrorists, and criminal organizations sustain their operations,\u201d she declared. Warren was [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":11977,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1154,1269,1175,36,1230],"class_list":["post-11978","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-crimes","tag-cryptocurrencies","tag-elizabeth-warren","tag-regulation","tag-us-congress"],"aioseo_notices":[],"amp_enabled":true,"views":"30","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/11978","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=11978"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/11978\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/11977"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=11978"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=11978"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=11978"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}