U.S. Senator Cynthia Lummis has defended crypto against claims that the asset class is heavily used in illicit finance. Emphasizing that “Crypto is not the problem, bad actors that exist in every industry are,” the lawmaker pointed out that crypto accounts for less than 1% of all illicit finance activity. In addition, she has urged Congress to create a regulatory framework to allow crypto firms to operate in the U.S. instead of driving them to “unregulated foreign markets.” Lawmaker Says ‘Crypto Is Not the Problem’ U.S. Senator Cynthia Lummis (R-WY) defended crypto in response to an article on Forbes about how misinformation on Hamas and crypto fooled nearly 20% of Congress. “Crypto accounts for < 1% of all illicit finance activity and would be even less if we created a regulatory structure to allow the crypto industry to operate in America instead of unregulated foreign markets,” the senator from Wyoming wrote on social media platform X Friday. She stressed: Crypto is not th...
Official Bitcoin Latest News Blog 🗞️