Witnesses will likely suggest giving FinCEN better tools to watch for illicit financing methods.
Bitcoin tumbled below $50,000, before bouncing back some. But not before some $25 million in DeFi loans were liquidated.
The man was arrested in his car, where police found $1 million in cash, cocaine and electronic devices.
Police seized 1,746 bitcoin mining machines across 21 premises in raids this week.
Joseph Chase Oaks allegedly used SIM-swap hacks to access victim’s online accounts between August 2018 and October 2019.
“I see the promise of these new technologies, but I also see the reality: Cryptocurrencies have been used to launder the profits of online drug traffickers; they’ve been a tool to finance terrorism,” Yellen said.
The alleged international criminal network targeted online influencers, sports stars, musicians and their families in the U.S.
The letter also asks whether DLive identified any crypto donations from foreign entities to the individuals present on Jan. 6.
Prosecutors allege the pair used their positions in the U.S. Navy to steal and sell personal information of 9,000 people.
Jerry Guo represented himself to clients as an ICO consultant, then embezzled funds now worth over $20 million.