Senators Elizabeth Warren And Bill Cassidy Warns Of Using Crypto To Sexually Abuse Children
Key Points:
- Senators Elizabeth Warren and Bill Cassidy push DOJ and DHS to act on crypto in child abuse distribution due to anonymity concerns.
- Data shows crypto is still favored by abusers; senators demand action despite the 2023 decrease.
- The May 10 deadline is set for agencies to respond to research and propose anti-exploitation tools.
US Senators Elizabeth Warren and Bill Cassidy have issued a joint plea to the Department of Justice and the Department of Homeland Security, urging heightened measures against the use of cryptocurrency in the distribution of child sexual abuse material (CSAM) online.
Senators Elizabeth Warren Call for Crackdown on Cryptocurrency in Child Abuse Distribution
Highlighting concerns over the anonymity inherent in crypto transactions, the senators argue that such anonymity facilitates evasion of law enforcement by those involved in CSAM trading.
Referencing data from various sources, including the US Treasury’s Financial Crime Enforcement Network and Chainalysis, Warren points to a perceived increase in the utilization of cryptocurrency in illicit CSAM transactions. They note the identification of 1,800 Bitcoin wallets suspected of engaging in such activities between 2020 and 2022 by financial institutions.
Deadline Set for Government Response
Despite a reported decrease in the scale of the crypto-based CSAM market in 2023, US Senators Elizabeth Warren and Bill Cassidy underscore the continued significance of cryptocurrency as the preferred payment method for perpetrators of child sexual abuse and exploitation.
The senators have directed a series of questions to the federal agencies, seeking clarification on their research findings regarding cryptocurrency’s role in the CSAM problem and soliciting proposals for new tools to combat buyers and sellers in this market. They have set a deadline of May 10 for responses from the agencies.
| DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
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Senators Elizabeth Warren And Bill Cassidy Warns Of Using Crypto To Sexually Abuse Children
Key Points:
- Senators Elizabeth Warren and Bill Cassidy push DOJ and DHS to act on crypto in child abuse distribution due to anonymity concerns.
- Data shows crypto is still favored by abusers; senators demand action despite the 2023 decrease.
- The May 10 deadline is set for agencies to respond to research and propose anti-exploitation tools.
US Senators Elizabeth Warren and Bill Cassidy have issued a joint plea to the Department of Justice and the Department of Homeland Security, urging heightened measures against the use of cryptocurrency in the distribution of child sexual abuse material (CSAM) online.
Senators Elizabeth Warren Call for Crackdown on Cryptocurrency in Child Abuse Distribution
Highlighting concerns over the anonymity inherent in crypto transactions, the senators argue that such anonymity facilitates evasion of law enforcement by those involved in CSAM trading.
Referencing data from various sources, including the US Treasury’s Financial Crime Enforcement Network and Chainalysis, Warren points to a perceived increase in the utilization of cryptocurrency in illicit CSAM transactions. They note the identification of 1,800 Bitcoin wallets suspected of engaging in such activities between 2020 and 2022 by financial institutions.
Deadline Set for Government Response
Despite a reported decrease in the scale of the crypto-based CSAM market in 2023, US Senators Elizabeth Warren and Bill Cassidy underscore the continued significance of cryptocurrency as the preferred payment method for perpetrators of child sexual abuse and exploitation.
The senators have directed a series of questions to the federal agencies, seeking clarification on their research findings regarding cryptocurrency’s role in the CSAM problem and soliciting proposals for new tools to combat buyers and sellers in this market. They have set a deadline of May 10 for responses from the agencies.
| DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
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