U.S. lawmakers on Thursday again discussed illicit finance with regard to cryptocurrencies. The Senate Banking, Housing, and Urban Affairs Committee held a hearing entitled “Understanding the Role of Digital Assets in Illicit Finance” Several cryptocurrency experts, including one on the front lines of the Russia-Ukraine conflict, briefed the committee on what they called an immense upside of crypto adoption. The experts also discussed some of crypto’s more macro risks – including sanctioned entities obfuscating funds and ransomware gangs extorting global organizations for Bitcoin.”]
Source: https://www.cuinfosecurity.com/banking-committee-chair-crypto-endanger-security-a-18740