US Treasury official calls for global crypto oversight

posted 12 days ago
A senior US official has called on the crypto industry and the wide global financial sphere to take steps to prevent malicious actors from using the tech for illicit purposes. Speaking at the American Bankers Association/American Bar Association Financial Crimes Enforcement Conference on Monday, US Department of the Treasury Under Secretary for Terrorism and Financial Intelligence Sigal Mandelker outlined how her agency is examining the crypto space and calling for increased global oversight.

She called for other nations to develop or enforce anti-money laundering and combating the financing of terrorism (AML/CFT) regulations. Specifically, she said crypto companies must take steps to ensure that “malicious actors,” such as those listed on the sanctions list, are not able to use their services. As an example, she said that one company alerted customers about the sanctions list. The company also shared information about its due diligence processes as part of this effort.
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