Posted 11/29/2023, 7:57:00 PM
U.S. Treasury Seeks Expanded Crypto Oversight to Combat Illicit Finance
- U.S. Treasury seeking expanded powers to go after illicit crypto activity overseas, including non-U.S. stablecoin issuers like Tether
- Wants ability to sanction foreign crypto exchanges supporting terrorism or money laundering
- Seeking to designate more crypto entities as financial institutions under Bank Secrecy Act
- Cites need to adapt tools to evolving digital finance, though industry cautions overreach
- Builds on recent major Binance penalty settlement, crypto mixer sanction