26th Parliamentary Intelligence-Security Forum – Cryptocurrency Supervision and Regulation

Ms. Lilita Infante discussed her early involvement in creating a federal task force exclusively dedicated to addressing cryptocurrency-enabled crime. The task force covered various aspects such as dark web activities, money laundering by criminal organizations, terrorist financing, and funding by adversarial nation-states for nuclear arms programs. Having witnessed the negative applications of crypto over the years, Ms. Infante acknowledged the challenges posed by scams, hacks, and fraud within the industry. Despite these challenges, she expressed her belief in the technology and its potential to combat cyber warfare, particularly through cryptography. Ms. Infante emphasized the need for continued research and development in cryptography as a proactive measure against emerging threats, including the anticipated challenges posed by Quantum Computing. She stressed the importance of not stifling the cryptocurrency industry through excessive regulation, as it plays a crucial role in fostering innovation and developing tools to address future threats.