Amid the ongoing global crackdown on financial crimes and terrorism funding, the US government recently highlighted concerns regarding the alleged inadequate efforts of some companies operating in the crypto asset space.

The US government particularly points to the potential role of digital assets in facilitating illicit financial transactions, urging companies to take proactive steps in curbing such activities.

Illicit Finance In The Digital Realm? 

While addressing an audience in London, US Deputy Treasury Secretary Wally Adeyemo emphasized that most financial institutions share an interest in eliminating terrorist financing. This collaborative spirit, however, doesn’t spread to “all sectors equally.”

Adeyemo pointedly noted concerns regarding certain players in the digital asset industry. According to the US Deputy Treasury Secretary, driven by innovation, these entities often “overlook the consequential responsibilities, notably in guarding against illicit finance.” Adeyemo stated:

Our expectation is that financial institutions and digital asset companies and others in the virtual currency ecosystem take steps to prevent terrorists from being able to access resources.

The US Deputy

Go to Source to See Full Article
Author: Samuel Edyme

Did you like this?
Tip BTC Newswire with Cryptocurrency

• Bitcoin
• Bitcoin Cash
• Ethereum
• Litecoin
• Monero
• ZCash

Donate Bitcoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Bitcoin Cash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Ethereum to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Ether:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Litecoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Litecoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Monero to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Monero:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate ZCash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some ZCash:

Copy ZCash Address

[X] Click Here to Hide Donation Details