Cryptocurrency Is Being Used To Finance Terrorism' Cynthia Lummis Urges Crypto Regulations

This video features Senator Cynthia Lummis discussing the need for regulations on cryptocurrency due to its potential use in financing terrorism. She highlights her collaboration on an amendment to the National Defense Authorization Act (NDAA) and emphasizes the role of cryptocurrency in illicit activities. Senator Lummis calls for action against offshore companies like Binance and Tether, accusing them of financing terrorism. She advocates for providing resources to law enforcement agencies rather than creating new laws and proposes the Responsible Financial Innovation Act for digital asset regulation. The senator also addresses concerns about crypto assets being more traceable than cash and urges clear paths for registration to eliminate illicit finance in the crypto space. She concludes by sharing a letter sent to Attorney General Merrick Garland, urging the Department of Justice to investigate Binance and Tether for their involvement in illicit finance.
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