Treasury Official Cautions Stablecoins on Terrorist Financing Risks
• Treasury official warns stablecoins like Tether outside U.S. must prevent terrorist financing or face consequences • Says some crypto firms have failed to prevent illicit activity, posing national security risk • Cites recent Binance settlement as example of platform used by criminals • Suggests crypto industry set up information exchange about bad actors like banks have done • Sanctioned crypto mixer Sinbad for supporting North Korean hacking transactions