U.S. Senator Elizabeth Warren: Cryptocurrencies play a large role in scams targeting elderly investors and calls for the passage of an anti-money laundering bill

Odaily News Sen. Elizabeth Warren, D-Mass., criticized the role of cryptocurrencies in scams targeting older investors at a recent Senate hearing, fueling her own bill that she said would end the scams. Warren questioned a witness at a Senate Aging Committee hearing on Thursday about why cryptocurrencies are being used in scams. Steve Weisman, a senior lecturer at Bentley University, responded: Anonymity is excellent. There are people looking for privacy, and certainly thats a feature of crypto mixers, where your account is mixed with other accounts and becomes very difficult to trace. .” Warren said her proposed bill, called the Digital Asset Anti-Money Laundering Act, would make it easier for regulators to track suspicious activity surrounding cryptocurrencies and end these scams. “I think Americans are tired of these cryptocurrency crimes and it’s long overdue for some regulations to deal with this issue,” she said.