Chairman of the U.S. Senate Banking Committee calls for crackdown on the use of crypto to finance terrorism

Sherrod Brown, the chairman of the Senate Banking Committee and a Democrat from Ohio, called for action to combat the use of cryptocurrency to fund terrorism and evade sanctions during today's hearing. He believes that cryptocurrency platforms often do not use "the same commonsense protections" such as know-your-customer rules, which allows illegal funds to stay away from traditional sectors. Brown stated that he will work together in a bipartisan manner within the committee to ensure that terrorists and bad actors cannot use cryptocurrency.