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🚀 DeFi, Web 3, Tech enthusiasts! Coinbase's Chief Legal Officer, Paul Grewal, is calling out the US Government Accountability Office (GAO) for its recent report on crypto use in evading sanctions. 😱 Grewal claims the GAO failed to conduct a meaningful comparative analysis and targeted an industry that's heavily invested in compliance. 🤔 He even pointed out that the report admits digital assets aren't effective for circumventing sanctions. 🤷 Despite the report's limitations, Senator Elizabeth Warren used it to push for stricter AML regulations. Critics argue that the proportion of crypto used for illicit activities is less than 1% of the total circulating supply, much lower than fiat currencies like the US dollar. 💵 What do you think about the GAO report and its impact on the crypto industry? Share your thoughts in the comments! 🗣️ #DeFi #Web3 #CryptoRegulation

🚀 DeFi, Web 3, Tech enthusiasts! Coinbase's Chief Legal Officer, Paul Grewal, is calling out the US Government Accountability Office (GAO) for its recent report on crypto use in evading sanctions. 😱

Grewal claims the GAO failed to conduct a meaningful comparative analysis and targeted an industry that's heavily invested in compliance. 🤔 He even pointed out that the report admits digital assets aren't effective for circumventing sanctions. 🤷

Despite the report's limitations, Senator Elizabeth Warren used it to push for stricter AML regulations. Critics argue that the proportion of crypto used for illicit activities is less than 1% of the total circulating supply, much lower than fiat currencies like the US dollar. 💵

What do you think about the GAO report and its impact on the crypto industry? Share your thoughts in the comments! 🗣️ #DeFi #Web3 #CryptoRegulation

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