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

Norway Fines Microsoft’s Xandr $9.6M Over Grindr Data

Norway's Data Protection Authority fined Microsoft's Xandr €8.6 million ($9.62 million) for illegally sharing...

Nvidia stock falls 1.29% after Microsoft AI chip revelation.

NVIDIA shares closed 1.29% lower on Monday after Microsoft unveiled its Azure Maia 300...

ENS DAO to vote on ENSv2 protocol upgrade for public mainnet

ENS founder Nick Johnson submitted an executable draft proposal to activate ENSv2 on the...

GitLab Patches Critical RCE Flaw CVE-2026-97229 in CE/EE Now

GitLab patched a maximum-severity flaw (CVE-2026-97229, CVSS 10.0) that allows unauthenticated code execution via...

Micron stock drop persists after China CXMT chip breakthrough

MU slid 3.88% to $989.04 on Monday, then fell another 2.73% overnight to $962.08...

Must Read

How to Check The Rarity of An NFT

Whenever you invest in an NFT collection, you might have noticed that some NFTs are more expensive than others. NFT collections are often made...
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