Senator Cynthia Lummis
@SenLummis
$900 million in non-crypto (fiat currency) money laundering vs $900,000 in crypto money laundering.
Crypto is clearly not the problem. Criminals and bad actors are.
It would be a historic mistake to crush an entire emerging industry based on incorrect data.
“Last year, the Department of Justice indicted a Sinaloa Cartel member who laundered nearly $900,000 in crypto.”
What she doesn't want you to know: In the years prior, the Sinaloa & Norte del Valle cartels laundered nearly $900,000,000 in fiat currency through HSBC.
That's a fiat 0ntire gambit depends on public ignorance. Cash remains the preferred currency of criminals. And when compared to crypto, it's not even close.
2024-01-22T18:22:42.000Z
2024-01-23T16:44:03.000Z