At a Senate Banking Committee hearing on Tuesday Senator Elizabeth Warren (D-Mass.) merged Senator Roger Marshall (R-Kan.) to campaign for their bipartisan legislation to combat money laundering and other illicit financial activities using cryptocurrencies.

What happened: “Big financial criminals love crypto,” Warren said Tuesday.

Over the past year, more than $1 billion was laundered through cryptocurrency by international drug traffickers, $1.7 billion was stolen by North Korean hackers to fund their nuclear program and nearly $500 million was collected from ransomware attackers, it added Warren added.

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“So Sen. Roger Marshall and I are reintroducing our Anti-Money Laundering Act to crack down on crypto crime and give regulators the tools they need to stop the flow of crypto to drug traffickers in places like North Korea and Iran to stop,” Warren said.

North Korean hackers may have stolen as much as $1 billion worth of cryptocurrencies in the past year, a record-breaking amount for the hermit kingdom led by dictator Kim Jong Un a confidential UN report seen by Reuters.

Alone on a June day last year, hacker $100 million stolen Value of cryptocurrencies, including ether ETH/USD, Wrapped Bitcoin WBTC/USD And Binance coin BNB/USD from the horizon bridge.

The original version of the bill, introduced last December, would have banned banks and other financial institutions from transacting with digital asset mixers to hide transactions made on public blockchains to avoid detection.

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