Mark Zuckerberg’s Wife Priscilla Chan Calls for Crypto Regulation to Prevent Cybercrime
Priscilla Chan, the wife of Facebook founder and CEO Mark Zuckerberg, has called for increased regulation of cryptocurrencies to combat cybercrime and protect consumers.
Speaking at the Hoover Institution’s Economic Perspectives conference in Washington, D.C., Chan argued that the anonymity and lack of oversight in the cryptocurrency market make it a breeding ground for financial crimes.
“Crypto has become a real tool for cybercrime,” Chan said. “It’s used to launder money, buy illegal goods, and finance terrorism.”
Chan emphasized the need for “clear and consistent rules” to govern the cryptocurrency industry. She called on governments to work together to establish international standards to ensure that cryptocurrencies are not used for illegal activities.
“We need to make sure that crypto is used for good,” Chan said. “We need to make sure that it’s not a tool for criminals and bad actors.”
Specifically, Chan called for measures such as requiring cryptocurrency exchanges to conduct thorough know-your-customer (KYC) checks on their users and monitoring transactions for suspicious activity. She also suggested exploring the use of centralized digital currencies issued by central banks as a way to regulate the market.
Chan’s comments come as governments around the world grapple with how to regulate cryptocurrencies. The United States has taken some steps towards regulating the industry, but there is still no comprehensive framework in place.
Other countries, such as China, have taken a more aggressive approach, banning cryptocurrency trading and mining. It remains to be seen how the cryptocurrency industry will evolve as governments continue to debate the best way to regulate it.
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