Speaking on CNBC Thursday, US Senator Elizabeth Warren says that crypto is the latest threat facing the world today. On the network’s Squawkbox Newsmaker, Warren spoke about her distrust in cryptocurrency, and how it’s used by criminals and even terrorists worldwide.
“It is being used for terrorist financing, it is being used for drug trafficking, North Korea is using it to pay for about half of its nuclear weapons program,” Warren said. “We can’t allow that to continue.”
Furthermore, Warren’s argument echoes that of JPMorgan CEO Jamie Dimon. Dimon said in front of senators yesterday that he would close down crypto if he were a member of the government. The US Government is split on the future of crypto. Some members embracing the future of crypto and others looking to prevent it. Senator Warren has voiced her frustrations with crypto as a tool for crime throughout this debate.
Also Read: VanEck Predicts First Spot Bitcoin ETF Approval for Q1 2024
Also Read: Elizabeth Warren’s Crypto-Terrorism Bill Gets US House Support
Senator Elizabeth Warren is pushing towards updating banking laws to include crypto enforcement. She has introduced new bills to strengthen crypto regulation and bank secrecy requirements for crypto assets. Senator Warren has led the fight against crypto in the US for the safety of citizens and their funds. Thus, she feels that the threat has only grown.
With growing threats in the country due to the ongoing Israel-Hamas war, danger for Americans is at an all-time high. With the quick anonymity of crypto transactions, Senator Warren feels that the digital asset industry only aids the threats instead of stopping them.