Cryptocurrency

<div class="finbold">
 <p class="paragraph">While Senator Elizabeth Warren’s opposition to <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currencies has already earned her a reputation among the <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> crowd, one of her most recent posts slamming the industry on the social media platform X has received Community Notes throwing a similar argument at her.</p>
 <p class="paragraph">As it happens, Warren shared a report by the US Government Accountability Office (USGAO) as evidence for her claim that “rogue nations are using crypto to dodge sanctions and undermine our national security,” as she explained in an X post published on January 21.</p>
 <p class="paragraph">According to her, it is “time for <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> to follow the same anti-money laundering rules as everyone else,” for which purpose she said she had prepared “a bill to make it happen,” referring to the Digital Asset Anti-Money Laundering Act that seeks to put a stop to <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>’s alleged use in illicit finance.</p>
 <figure class="wp-block-embed aligncenter is-type-rich is-provider-twitter wp-block-embed-twitter">
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   <blockquote class="twitter-tweet" data-width="500" data-dnt="true">
    <p lang="en" dir="ltr">A new&nbsp;@USGAO report&nbsp;confirms that rogue nations are using <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> to dodge&nbsp;sanctions and undermine our national security.<br><br>It’s time for <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> to follow the same anti-money laundering&nbsp;rules as everyone else.&nbsp;I’ve got a bill to make it happen. https://t.co/TUX2sJ8HR0</p>— Elizabeth Warren (@SenWarren) January 21, 2024
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 <h2 class="wp-block-heading" id="h-community-fights-back">Community fights back</h2>
 <p class="paragraph">Not long after Warren made the post, readers added context via Community Notes, attaching the US Treasury Department’s own February 2022 National Money Laundering Risk Assessment report, which “states that fiat is the preferred currency for financial crimes.”</p>
 <figure class="wp-block-image aligncenter"><img decoding="async" src="https://thebittimes.com/image/getimage/?url=https://lh7-us.googleusercontent.com/GMp2oUR_c38RNv7XoqS-VmarIU3c7VunIK3uG87jq2RKnM2UMDNux9RRXZVuqtYOxSB4hCKfwYWI5ukSjURn0HLp5XR2pBiz1jm-fMtCUPxu0f6gObEs8WgKwzi1Y6YsCQ3VYXNMK3RRu5RcrezhAqA" alt>
  <figcaption class="wp-element-caption"><em>Community notes under Warren’s post. Source: X</em>
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 <p class="paragraph">Indeed, the cited report states that “the use of virtual assets for money laundering remains far below that of fiat currency and more traditional methods,” albeit adding that “law enforcement agencies have detected an increase in the use of virtual assets” for criminal purposes.</p>
 <p class="paragraph">As it happens, the Massachusetts senator has long purported that digital assets were overwhelmingly popular among criminals, and the recent rejection of her <a rel="noopener noreferrer nofollow" title="claim" href="https://thebittimes.com/tag/claim.html">claim</a>s has put to use the feature that Twitter introduced before the acquisition by Tesla (NASDAQ: TSLA) CEO Elon Musk, who further promoted Community Notes.</p>
 <p class="paragraph">At the same time, Ethereum (ETH) co-founder Vitalik Buterin credited X’s Community Notes as “the closest thing to an instantiation of ‘<a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> values,’ that we have seen in the mainstream world” and “surprisingly close to satisfying the ideal of credible neutrality,” as he said in his blog post in August 2023.</p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/elizabeth-warren-gets-community-noted-over-crypto-crime-claims-tbt77447.html">https://thebittimes.com/elizabeth-warren-gets-community-noted-over-crypto-crime-claims-tbt77447.html</a></p>

Elizabeth Warren gets community noted over crypto crime claims

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