Monero

Security

Read

U.S. senators <a href="https://crypto.news/tag/elizabeth-warren/" rel="noopener noreferrer nofollow">Elizabeth Warren</a> and Bill Cassidy have urged the Department of Justice (DOJ) and Department of Homeland Security (DHS) to double down on their efforts to combat crypto use in the market for child sex abuse material (CSAM).
In a letter of grave concern to Attorney General Merrick Garland and Secretary of Homeland Security Alejandro Mayorkas, the US senators have specifically requested the DOJ and DHS to transparently disclose their technical capacity to counter the use of cryptocurrencies in the CSAM market.
“Existing Anti-Money Laundering (AML) rules and law enforcement methods face challenges in effectively detecting and preventing these crimes,” the <a href="https://www.warren.senate.gov/imo/media/doc/Warren,%20Cassidy%20Letter%20to%20DOJ%20and%20DHS%20on%20CSAM%20&amp;%20Crypto.pdf" target="_blank" rel="noopener noreferrer nofollow">letter</a> read.
The senators cited research from analytics firm Chainalysis as a foundation for their concern. The 2024 report <a href="https://www.chainalysis.com/blog/csam-cryptocurrency-monero-instant-exchangers-2024/" target="_blank" rel="noopener noreferrer nofollow">indicated</a> an increase in cryptocurrency use for CSAM trades. Bad actors allegedly use cryptocurrency “mixers” and “privacy coins” like Monero to launder funds while making it hard for law enforcement to track.
You might also like: <a href="https://crypto.news/senators-raise-concerns-over-crypto-etf-approvals-face-industry-backlash/" rel="noopener noreferrer nofollow"> Senators raise concerns over crypto ETF approvals, face industry backlash </a>
“The pseudonymity provided by cryptocurrency has allowed the payments for CSAM to “move quickly into the crypto world,” and we are committed to ensuring that Congress and the Administration have the full suite of tools needed to end CSAM and punish sellers of this Material.”
The letter comprised of six questions. Three questions were aimed at considering the findings of the said federal agencies regarding crypto and its connection to CSAM. The other questions sought new tools that would allow law enforcement to identify and crack down on buyers and sellers in this market.
The federal agencies have until May 10 to respond to the senators.
As previously reported by crypto.news, crypto exchange Binance was <a href="https://crypto.news/binance-founder-and-ceo-plead-guilty-to-federal-charges-opinion/" rel="noopener noreferrer nofollow">allegedly</a> involved in facilitating transactions related to CSAM material and other criminal activities. The exchange was charged by federal authorities, and the exchange’s CEO, Changpeng Zhao, is <a href="https://crypto.news/us-seeks-36-month-jail-sentence-for-binance-founder/" rel="noopener noreferrer nofollow">expected</a> to face a 36-month prison sentence.
Read more: <a href="https://crypto.news/18-us-senators-strongly-support-crypto-new-report-finds/1" rel="noopener noreferrer nofollow"> 18 US senators strongly support crypto, new report finds </a>

US senators cracking down on crypto use in child abuse trade

crypto.news

在 2024年4月26日發表的其他文章

Analyst Predicts Bright Future for Altcoins in Bull Market: XRP, ADA, HBAR in Spotlight

Top 5 Lesser-Known Altcoins to Turn $1,000 into $1M During This Crypto Bull Run

96000 BTC Options Expiry Sets Max Pain Price At $61,000, What’s Next?

Solana ‘SOL’ Millionaire Joins $888k Raffle To Purchase New Porsche 911 With Prize Funds

Spot Bitcoin ETFs Clobbered By $218M Net Outflow On Thursday

How Yellen’s Treasury Strategies Could Boost the Crypto Markets in Q2 2024

訂閱免費電子報，每天收取加密貨幣最新動態！