#CryptoRoundTableRemarks

Senate Banking Committee Hearing (June 18, 2024)

Focus: “Crypto’s Role in Terrorism Financing”

Key Moments:

Sen. Warren: Demanded ban on privacy coins (Monero, Zcash).

Chainalysis Data: Showed 90% of illicit crypto flows still use BTC, not privacy coins.

Industry Pushback: Coinbase argued blockchain analytics > outright bans.

Outcome: Draft bill proposing mandatory KYC for all wallets (even self-custody).