Adeyemo highlights the urgency of regulating digital currencies due to national security risks. Political opposition challenges push for broader crypto regulations. State actors exploiting digital assets underscore the geopolitical complexity of crypto regulation. The US Treasury Department is intensifying its efforts to combat illicit activities facilitated by digital currencies, citing national security concerns as the […]
The post US Treasury Seeks Tighter Crypto Regulation Over National Security Concerns appeared first on Coin Edition.
- Adeyemo highlights the urgency of regulating digital currencies due to national security risks.
- Political opposition challenges push for broader crypto regulations.
- State actors exploiting digital assets underscore the geopolitical complexity of crypto regulation.
The US Treasury Department is intensifying its efforts to combat illicit activities facilitated by digital currencies, citing national security concerns as the driving force behind its push for expanded regulatory powers. The Deputy Secretary of the Treasury, Adewale O. Adeyemo, amplified the significance of immediate response actions against cybercriminals who utilize cryptocurrency technologies to be outside the control of traditional financial regulations.
Adeyemo’s call for enhanced regulatory measures comes amidst heightened global scrutiny of the role of digital assets in illicit financial transactions. The Chairman has introduced a resolution encouraging lawmakers to allow authorities to use secondary sanctions on foreign entities that engage in illegal activities involving virtual currencies.
This proposed measure is regarded not only as a proactive reaction directed to financial crime but als…
The post US Treasury Seeks Tighter Crypto Regulation Over National Security Concerns appeared first on Coin Edition.
