BTC $71,807
2026 Bull Run Is Building Start trading with 5% OFF all fees
Sign Up Now
BTC $71,807
Bull Run 2026 | 5% Off Fees Open your Binance account today
Sign Up

Cryptocurrencies and Fiat Money: Two Sides of the Same Coin in the Fight Against Fraudulent Finance

How National Security Risks and Financial Instability are Driving New Legislation and Regulatory Oversight

The anonymity provided by cryptocurrencies enables the funding of illegal activities, posing national security risks that must be addressed, warned Christy Goldsmith Romero, commissioner at the US Commodity Futures Trading Commission.

- Advertisement -

Romero said cryptocurrencies are being used to fund cybercrime targeting individuals, companies, hospitals and critical infrastructure.

“Fraud is a hallmark of digital asset markets,” she stressed at a conference in London, adding that the lack of visibility in cryptocurrency markets must be addressed.

“It is important for governments and particularly the industry to address what makes cryptocurrencies so attractive for illicit finance, and that is the allure of anonymity,” she noted, according to Reuters.

“Congress is already considering new laws to address anonymity and digital identity,” Romero said.

- Advertisement -

However, it’s important to note that fiat money, which has been the standard currency for decades, has also been used for fraudulent activities in various aspects of finance.

From money laundering to Ponzi schemes, the misuse of fiat money has led to financial crises, loss of trust in financial institutions, and economic instability.

While the anonymity provided by cryptocurrencies certainly poses a national security risk that needs to be addressed, it’s crucial not to overlook the longstanding issues with fiat money and the need for better regulation and oversight in the financial industry as a whole.

READ NEXT

Previous Articles:

- Advertisement -
Ad
Altseason Is Loading. Don't watch from the sidelines.
SOL $90.51
DOGE $0.0963
LINK $9.02
SUI $1.00
5% off fees when you sign up
Start Trading
Ad
Pay Less on Every Trade. For Life.
$10K/mo volume Save $60/yr
$50K/mo volume Save $300/yr
$100K/mo volume Save $600/yr
5% off all trading fees when you sign up
Claim Your Discount

Latest News

UK FCA may lift ban on prediction markets for retail

The UK's Financial Conduct Authority is reportedly weighing whether to lift its 2019 ban...

PEEP malware: Chrome extension hijacks browsers, steals data

Researchers at SOCRadar uncovered a Chrome/Edge post-exploitation toolkit called PEEP that masquerades as a...

Starcloud mining Bitcoin in space is a really crazy $2B idea

Starcloud, a data centers-in-space startup, raised nearly $500 million at a $2 billion valuation...

EIP-8141 Frames: Pay Gas in Tokens on Ethereum

EIP-8141's Frame transactions split a transaction into validation, payment and execution steps, each an...

Zcash ETF launch sparks rally to 2016 high

ZCash (ZEC) surged to $1,249.28, its highest price since 2016, pushing market cap above...

Must Read

7 Best Cryptocurrency Lending Platforms in 2025 (Ranked & Reviewed)

QUICK LINKSOur MethodologyHow to Choose the Best Crypto Lending Platform: Key Factors to ConsiderIn-Depth Reviews of the 7 Best Crypto Lending Platforms1. Nexo -...
Ad
Altseason Is Loading. These 4 coins are trending right now.
SOL $92.12
DOGE $0.0950
LINK $9.02
SUI $1.02
5% off spot fees when you sign up
Start Trading