Senator Hassan Statement on Treasury Department’s Actions to Counter Illicit Use of Cryptocurrency

WASHINGTON – U.S. Senator Maggie Hassan (D-NH), Chair of the Subcommittee on Emerging Threats, issued the following statement after the Treasury Department today announced a number of actions to crack down on the use of cryptocurrency for receiving ransomware payments and conducting other illegal activities:

“We have repeatedly seen criminals use cryptocurrency in ransomware attacks on businesses, hospitals, and the public sector. Treasury’s actions today are an important step forward in cracking down on cryptocurrency exchanges that enable criminals to launder ransomware payments and conduct other illicit financial activities. I will continue working across the aisle in Congress and with the administration to target the illegal use of cryptocurrency.”    

During the confirmation hearing for Treasury Secretary Janet Yellen, Senator Hassan pressed for the agency to take action against illegal uses of cryptocurrency. Senator Hassan has also called for action from additional federal agencies, including in letters she sent recently following a cyberattack on the Town of Peterborough and during today’s Senate Homeland Security Committee. You can watch today’s hearing question on cryptocurrency here at the 5:27 minute mark.

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