Commerce Nominee Lutnick Is Backer of Outlaws' Favorite Cryptocurrency

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Commerce Nominee Lutnick Is Backer of Outlaws' Favorite Cryptocurrency

//business-finance.news-articles.net/content/202 .. s-backer-of-outlaws-favorite-cryptocurrency.html

Published in Business and Finance on Saturday, January 18th 2025 at 9:00 GMT by MSN
^{🞛 This publication is a summary or evaluation of another publication 🞛 This publication contains editorial commentary or bias from the source}

Cantor Fitzgerald holds assets for Tether, the stablecoin used by drug traffickers, terrorists and scammers to move money around the world.

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The article from MSN discusses the U.S. Commerce Secretary nominee, Howard Lutnick, who is known for his support of Monero, a cryptocurrency favored by outlaws due to its privacy features. Monero uses advanced cryptography to shield the identities of senders and receivers, as well as the amounts transacted, making it nearly untraceable. This has made it popular among those looking to conduct transactions away from the prying eyes of law enforcement. Lutnick, the CEO of Cantor Fitzgerald, has been a vocal proponent of cryptocurrencies, particularly those offering privacy like Monero. His nomination has raised concerns among some lawmakers and financial watchdogs about the potential implications of his crypto affiliations on U.S. financial policy, especially in terms of regulation and the fight against financial crimes. However, supporters argue that his expertise in finance and technology could be beneficial in navigating the evolving landscape of digital currencies.

Read the Full MSN Article at:
[ https://www.msn.com/en-us/money/other/commerce-nominee-lutnick-is-backer-of-outlaws-favorite-cryptocurrency/ar-AA1xqmjS ]