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Law360 (June 11, 2021, 10:29 p.m. EDT) – Instead of putting virtual chains around the cryptocurrency industry, Sen. Pat Toomey, R-Pa., Says the U.S. government should focus on working with stakeholders to address outdated rules and use digital currency as a means to track down bad actors, like those who perpetrated the colonial pipeline hack.
The millions of dollars that US authorities recovered this month as a result of the now infamous colonial hack show that crypto “in some cases may be more easily traceable than transactions using US dollars,” said Toomey, the senior member of the Senate Banking Committee, in a statement. letter Thursday to US Treasury Secretary Janet Yellen ….
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