Finance

U.S. Treasury to expand sanctions powers for digital assets


U.S. Treasury to expand sanctions powers for digital assets

The Biden administration is urging Congress to consider the most significant updates to the Treasury’s sanctions authority since 2001.

This move aims to better regulate the use of digital assets for financial transactions in regions impacted by terrorism.

According to Bloomberg, U.S. foreign trade representative Wally Adeyemo said it was necessary to introduce a “secondary sanctions regime.” Such sanctions control a company or person within the U.S. financial system because it “also puts at risk any firm that continues to do business with a sanctioned target,” he said.

The Treasury “provided Congress a set of common-sense recommendations to expand our authorities and broaden our tools and resources to go after illicit actors in the digital asset space,” Adeyemo added.

Over the past few months, U.S. authorities have stepped up oversight of the cryptocurrency industry and are demanding stronger measures to combat the use of cryptocurrency by terrorists.

Last month, U.S. Sen. Cynthia Lummis and Rep. French Hill sent a letter to the Justice Department asking it to “carefully evaluate the extent to which Binance and Tether provide material assistance and resources to support terrorism.”

U.S. senators led by Elizabeth Warren also believe that cryptocurrencies remain one of the tools that groups use to raise funds. They asked the administration to provide information on a plan to prevent the use of cryptocurrencies to finance terrorism.

However, analysts at Chainalysis questioned the data from a number of reports on the use of cryptocurrency to finance terrorism. In their opinion, these figures may be greatly exaggerated. According to the company’s estimates, only $450,000 of the $82 million previously announced in the media can be clearly attributed to funds aimed at financing terrorist activities.


Follow Us on Google News




Source link

Back to top button

Sweet Bonanza

Baccarat Online

Lucky Neko

Slot88

Slot777

Slot Bet 100

Slot777

Slot777

slot bonus

slot gacor gampang menang

sbobet88

sbobet88

daftar slot777

sbobet88

slot starlight princess

sbobet88

slot777 gacor

slot gacor

slot joker123

pragmatic play

bonus new member

slot gacor

pragmatic play

slot deposit qris

Slot777

Slot777

Slot777

Slot88

slot gacor

ARES GACOR

Slot Gacor

GADUNSLOT

sbobet

slot bonus

pragmatic

slot777

pragmatic

pragmatic

pragmatic

sbobet

sbobet

gates of gatotkaca

joker123

slot bonus

slot bet kecil

pragmatic play

slot bet kecil

joker123

Joker123

https://sbobet-gadunslot.matthewwilliamson.com/products/sbobet

https://sbobet-gadunslot.thebotanist.com/products/sbobet-daftar

https://tutordong-garansikekalahan.wonhundred.com/products/slot-garansi-kekalahan-100

https://gadunslot-pastirankslot88.zacbrownband.com/products/slot88-agen-situs-judi-slot-online-terpercaya-no-1

https://sl0t-thailand-gadunslot-gacor.eightoclock.com/products/slot-server-thailand/

https://slottt-thailand.gds.eightoclock.com/products/slot-thailand

https://slotresmi-gadunslot.matthewwilliamson.com/products/slot-resmi

Adblock Detected

Please consider supporting us by disabling your ad blocker