Elizabeth Warren Warns North Korea Is Financing Nuclear Missiles With Crypto

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With Bitcoin having delivered double-digit percentage gains this year and the broader cryptocurrency sector enjoying favorable tailwinds in the form of greater retail access, Senator Elizabeth Warren (D-MA) has stressed once again that the popular alternative finance medium needs to be brought on the same regulatory footing as traditional entities such as banks and money transfer agencies. She spoke on various topics in a talk with journalists from Bloomberg yesterday and shared that scrutiny of cryptocurrencies is essential since nefarious elements have used them to destabilize the world and evade the law.

Senator Warren Stresses That Banks, Credit Unions, Gold Traders, Stock Brokers and Others Follow The Same Set of Rules

Since cryptocurrency is quite a younger phenomenon when compared to financial metals such as gold or established banks like JPMorgan, its meteoric rise, along with advances in chip fabrication, has been unforeseen. While it offers the same benefits as a typically liquid currency or asset, the source of funds piled into currencies such as Bitcoin becomes harder for law enforcement agencies to track.

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In her talk with Bloomberg Television yesterday which was aired late evening Eastern time, the senator from Massachusetts stressed that her only aim is to ensure that cryptocurrency and its associated entities are brought on the same "level playing field" as other financial mediums, such as banks, credit unions and gold traders. According to her, this would allow criminal elements, the likes of terrorists and human traffickers, to be unable to use cryptocurrency for their crimes.

Bitcoin's sharp price rise in 2024 has been accompanied by various finance sector professionals commenting on it.