Scott Dueweke, director of threat analysis company DarkTower, was one of several witnesses appearing before the Senate Subcommittee on Crime and Terrorism to discuss the potential use of cryptocurrencies by foreign agents in order to influence American elections. He argued that lawmakers must focus on identity solutions to prevent undue foreign influence on upcoming elections.
“There is a global shell game being played now,” by people hoping to bypass financial disclosure rules, he said. As a result, they are purchasing political advertisements and donating to certain parties in efforts to influence elections.
“They exchange one form of money for another … fiat currency in and fiat currency out, but in between you’re going to have these multiple layers of cryptocurrency that are going to be impossible to track.”
Another witness, Financial Integrity Network vice president David Murray, noted that cryptocurrencies can be used by foreign entities to avoid detection when donating to political parties or politicians.
He contrasted the use of cryptocurrencies with donations made through financial institutions…