9621 Agnes Crossing, Lake Suzanneview, New Mexico Island 84604-9295.
Raja Krishnamurthy, a member of the US House of Representatives, has sent letters to a number of federal agencies and cryptocurrency exchanges requesting data on the fight against
Raja Krishnamurthy, a member of the US House of Representatives, has sent letters to a number of federal agencies and cryptocurrency exchanges requesting data on the fight against fraud.
“The lack of a central authority to detect suspicious transactions in many cases, the irreversibility of transactions, and the limited understanding of the underlying technology by many consumers and investors make cryptocurrencies the preferred transaction method for attackers,” he says.
Buyers include the Ministry of Finance, the Securities and Exchange Commission, CFTC and FTC, as well as Binance.US, Coinbase, FTX, Kraken and KuCoin platforms. They should report on measures taken to protect investors.
In particular, Brian Schroeder, head of Binance’s American division, must provide documentation on the company’s policy regarding digital assets and mechanisms to identify potential fraudulent projects by September 12.
“Given the growing popularity of cryptocurrencies as a form of payment and investment, I am concerned about the rapid increase in fraud and abuse by users,” the congressman said.
According to him, authorities are “not in a hurry” to stop unfair practices and current legislation “does not fully cover digital assets”.
Krishnamurti chairs a subcommittee on economic and consumer policy oversight. In February 2021, along with his colleague Jackie Spier, he requested a statement from Tron founder Justin Sun about content moderation on the DLive streaming platform following the Washington riots.
In July 2022, Sherrod Brown, chairman of the US Senate Banking Committee, asked Alphabet and Apple for information on how to prevent cryptocurrency fraud in apps hosted in their stores.
Recall that in the second quarter, total losses of crypto projects from hacks and illegal activities exceeded $ 670 million, according to Immunefi.
In August, Elliptic analysts estimated that in the 12 months since July 2021, attackers have stolen over $100 million in NFT.
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Source: Fork Log
I’m Sandra Torres, a passionate journalist and content creator. My specialty lies in covering the latest gadgets, trends and tech news for Div Bracket. With over 5 years of experience as a professional writer, I have built up an impressive portfolio of published works that showcase my expertise in this field.
