US Senators Warren and Cassidy Push for Action Against Cryptocurrency Use in Child Abuse Trade
A concerted effort to crack down on the use of cryptocurrencies in the buying and selling of child sexual abuse material (CSAM) is underway in the United States, spearheaded by Senators Elizabeth Warren and Bill Cassidy.
The senators are asking federal agencies about their technical capacity to combat crypto payments in the sale of child abuse-related materials.
US Senators Elizabeth Warren and Bill Cassidy are urging the Department of Justice and the Department of Homeland Security to intensify efforts in combating the use of cryptocurrency for payments in the distribution of child sexual abuse material (CSAM) online, citing a perceived escalation in the problem.
In a letter addressed to Attorney General Merrick Garland and Secretary of Homeland Security Alejandro Mayorkas, the senators expressed concerns over the anonymity provided by cryptocurrency transactions. They argue that such anonymity facilitates the evasion of law enforcement by those involved in CSAM trading.
Drawing on data from the US Treasury’s Financial Crime Enforcement Network, Chainalysis, and the Internet Watch Foundation, the letter highlights an apparent rise in the use of cryptocurrency in illicit CSAM transactions.
It notes that financial institutions identified 1,800 Bitcoin wallets suspected of engaging in such transactions between 2020 and 2022. However, Chainalysis observed a decrease in the scale of the crypto-based CSAM market in 2023.
The senators highlighted the methods used by individuals involved in CSAM trading to conceal their activities, including the utilization of crypto mixing services and ATMs to obscure the origin of funds.
A Chainalysis study revealed that sellers of such materials are utilizing “mixers” and “privacy
Read more on cryptonews.com
