Lawmakers should be alarmed by the increasing use of digital assets like cryptocurrencies for money laundering, drug trafficking, terrorist financing and other financial crimes. Nations like Russia, Iran and North Korea have used digital assets to evade sanctions, launder stolen funds, and fund illegal weapons. North Korean actors, for example, reportedly stole more than $1.7 billion in digital assets in 2022 and laundered the coins using sophisticated techniques such as chain-hopping, the process of converting one cryptocurrency into another to hide illicit funds. There is a pressing need for a clearer and workable regulatory framework to prevent financial crimes using cryptocurrency.
Hence then, the article about we need new laws to combat crypto crimes was published today ( ) and is available onThe Hill ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
Read More Details Finally We wish PressBee provided you with enough information of ( We need new laws to combat crypto crimes )