United States Senator Elizabeth Warren has raised concerns about the increasing number of cryptocurrency scams targeting senior citizens. During a Senate hearing, Warren highlighted a 350% rise in crypto investment scams aimed at elderly Americans, resulting in over $1 billion in losses. Cybersecurity expert Steve Weisman supported Warren’s proposed legislation on digital assets, emphasizing the challenges of tracing cryptocurrencies once they pass through mixers. Weisman praised Warren’s Digital Asset Anti-Money Laundering Act, which aims to subject digital assets to the same AML laws as traditional fiat currency. Recent reports also indicate a surge in crypto hacks and scams, with a 153% increase in attack incidents targeting crypto and Web3 projects. Warren has gained support from nine additional U.S. senators for her proposed legislation, including Gary Peters and Dick Durbin.

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Information	Details
Geography	North America
Countries	🇺🇸
Sentiment	neutral
Relevance Score	1
People	Dick Durbin, Elizabeth Warren, Steve Weisman, Gary Peters
Companies	Blockchain security firm Immunefi, Senate Judiciary Committee, Digital Asset Anti-Money Laundering Act, Senate Homeland Security and Governmental Affairs Committee
Currencies	US Dollar
Securities	None