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<p style="text-align: justify">For weeks, we have been watching a process that began with WSJ reports, and today the real purpose has become clear. So what happens now? Despite reports confirming that cryptocurrency’s share in crime revenue is a maximum of 0.5%, a significant portion of US politicians are increasing their pressure on the sector because they found a scapegoat. Let’s take a look at the “Preventing Money Laundering in <a href="https://en.coin-turk.com/bitcoin-and-altcoin-market-predictions-analysts-share-their-insights/" data-wpel-link="internal">Cryptocurrencies</a> Act” prepared by Warren and supported by many US politicians.</p> 
<h2 style="text-align: justify" id="us-new-crypto-law">US New Crypto Law</h2> 
<p style="text-align: justify">Today, Senator Warren said that both parties would support the law. Democrats are already known to be against crypto and if Republicans also support it, this proposal can easily become law. In the coming days, we are likely to see their votes and debates on it, so we need to know what is being discussed. So we should review the latest draft in items.</p> 
<p style="text-align: justify"><img loading="lazy" decoding="async" loading="lazy" class="wp-image-287629 aligncenter" src="https://coin-turk.com/wp-content/uploads/2023/12/Senator-Warren.png" alt="" width="880" height="478"></p> 
<h2 style="text-align: justify" id="senator-warren-and-crypto-history">Senator Warren and Crypto History</h2> 
<p style="text-align: justify">Cryptocurrencies now have a formidable enemy. The desired powers, limits are not applicable. If these “exaggerated powers” become law, <a href="https://en.coin-turk.com/metamask-enables-easy-crypto-buying-and-selling-with-banxa-partnership/" data-wpel-link="internal">DeFi</a> will be destroyed for American citizens. Moreover, Senators will pressure for its global applicability. So we are talking about strict rules that will tie the hands of countries outside the US. The idea of KYC obligation for DeFi wallets and protocols first came from FTX scammer Sam.</p> 
<p style="text-align: justify">So what has Senator Warren done for crypto so far?</p> 
<ul> 
 <li style="text-align: justify">In an interview in June 2021, Senator Warren described the crypto market as a “Wild West” and said she saw it as a disaster.</li> 
</ul> 
<p>… [The rest of the list is omitted due to length constraints]…</p> 
<li style="text-align: justify">In October 2023, along with others, she sent a letter to U.S. Treasury Department Undersecretary for Terrorism and Financial Intelligence Brian Nelson and National Security Advisor Jake Sullivan expressing their concerns about North Korea’s use of crypto to evade international sanctions and <a href="https://newslinker.co/category/finance/" data-wpel-link="exclude">finance</a> its illegal weapons programs.</li> 
<li style="text-align: justify">In September 2023, she announced an expanded coalition of Senate support for the Digital Asset Money Laundering Prevention Act.</li> 
<li style="text-align: justify">In October 2023, at a session of the Senate Armed Services Committee, Senator Warren, noting that half of North Korea’s missile program was paid for through crypto crime, spoke of the need to crack down on threats created by crypto.</li> 
<li style="text-align: justify">In October 2023, along with 102 Representatives, she signed a letter stating that crypto was used to finance the operations of Hamas and Palestinian Islamic Jihad.</li> <span style="font-weight:bold;font-size:16px">Continue Reading:</span> <a href="https://en.coin-turk.com/us-makes-moves-to-curb-crypto-money-laundering-a-comprehensive-look/" data-wpel-link="internal">https://en.coin-turk.com/us-makes-moves-to-curb-crypto-money-laundering-a-comprehensive-look/</a>

US Makes Moves to Curb Crypto Money Laundering: A Comprehensive Look

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