“Mainstream media stories about crypto tend to focus on eye-catching allegations of illicit financial activity, particularly when cryptocurrency is used to launder the proceeds of a hack, ransomware attack, or other cybercrime activity.

As former prosecutors who spent a substantial part of our careers putting away bad guys  — including money launderers —  our interest is not in making headlines, but rather in helping Congress and other policymakers figure out which measures will be most effective in catching bad actors and reigning in illicit financial activity in the emerging crypto industry.

In brief, the U.S. government should address criminal acts by foreign bad actors who are the principal threat.

Below are some suggestions for how it can do so.”

–– Michele Korver, Head of Regulatory & Jai Ramaswamy, Chief Legal Officer

📝: https://a16zcrypto.com/posts/article/crime-crypto-concrete-steps-address-money-laundering/