Senator Lummis: Cryptoassets account for less than 1% of global illegal financial activities every year
US Senator Cynthia Lummis posted on X platform, saying that an inaccurate report last week claimed that Hamas raised nearly $100 million through encrypted assets, but in reality, the number is less than $500,000. Chainalysis' detailed report found that encrypted assets account for less than 1% of the annual illegal financial activities exceeding $2 trillion worldwide. After reports that Binance and Tether were engaged in illegal activities, I wrote to encourage the Department of Justice to complete the investigation, track the evidence, and consider criminal charges, because illegal activities by anyone are illegal.
Lummis said that there is no doubt that encrypted assets are not the problem, and bad actors exist in all fields. The future of US encrypted assets is brighter than ever before.