Elizabeth Warren sent a detailed letter to Scott Bessent, proposing tougher regulations on cryptocurrencies. Her suggestions include addressing the criminal use of crypto and introducing anti-money laundering rules tailored for digital assets. Warren believes there should be additional oversight to ensure that cryptocurrencies do not facilitate illicit activities.
In her correspondence, Warren expressed concerns about the effectiveness of current financial regulations on digital assets. She raised questions about the jurisdiction of the Office of Foreign Assets Control over stablecoins and whether the Treasury could implement secondary sanctions against fintech and crypto entities to prevent them from engaging in illegal activities.