US Deputy Treasury Secretary calls for additional tools to sanction crypto firms
Wally Adeyemo, the Deputy Secretary of the US Treasury, disclosed that the department is exploring new sanction tools to crack down on illicit activities in the cryptocurrency sector. The announcement came in the wake of a recent settlement with Binance, a cryptocurrency exchange firm. According to Adeyemo, the goal is to prevent malicious entities such as Hamas from exploiting digital assets and to halt more than 100,000 transactions related to child sexual abuse, drug trafficking, and terrorism. The department has requested Congressional approval to fully cut off certain entities from the US financial system. Adeyemo also hinted at the possible targeting of stablecoin providers based outside the US and emphasized the need for collaboration with financial sector companies in combating financial crimes.
