U.S. Treasury Proposes Stricter Control Over Global Crypto Exchanges

In a decisive move to fortify financial security, the U.S. Treasury is spearheading an initiative to augment its regulatory dominion, with a particular focus on cryptocurrency service providers that operate beyond American borders. This initiative, underscored by Deputy Secretary of the Treasury Adewale O. Adeyemo, seeks to address the burgeoning challenge posed by nefarious entities exploiting digital currencies to conceal their identities and illicitly transfer assets across the globe.



During his address prior to a Senate hearing, Adeyemo highlighted the alarming trend of cryptocurrencies being utilized for the financing of terrorist organizations as well as by nations currently under U.S. sanctions, notably Russia and the Democratic People's Republic of Korea (DPRK). The Deputy Secretary expressed, "The effectiveness of our


First found on: Cryptonews from Coinatory