The lawmaker says the Biden administration has not kept pace in ensuring crypto 'is not used to the detriment of U.S. national security.' cryptocurrency bitcoin
US Lawmaker Urges Biden Administration to Develop 'Robust Strategy' to Prevent Crypto Use to Evade Sanctions
“Emerging technologies like cryptocurrency offer many positive applications like humanitarian relief, but the administration has not kept pace in ensuring this novel form of currency is not used to the detriment of U.S. national security,” the congressman noted, elaborating: Rep. McCaul also sent a letter to President Joe Biden last month raising concerns about “the potential abuse of emerging technologies like cryptocurrency by Russia to evade sanctions.” He cited “an expected UN report on North Korea using stolen cryptocurrencies to fund its nuclear program.” He received no response from Biden.
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