Поділитися цією статтею
Treasury Official: Global Regulators Must Follow US Lead in Crypto Enforcement
U.S. Treasury Department Under Secretary Sigal Mandelker called for global efforts to police malicious actors' use of cryptocurrencies.
Автор Nikhilesh De
Make us preferred on Google
A senior U.S. 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, U.S. 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.
STORY CONTINUES BELOW
Не пропустіть жодної історії.Підпишіться на розсилку Crypto Daybook Americas вже сьогодні. Переглянути всі розсилки
She highlighted the Treasury Department Office of Foreign Asset Control (OFAC)'s addition of bitcoin addresses to its sanctions list last week. The office listed two Iranian residents who converted bitcoin ransoms into Iranian rials as part of an effort to cut them off from the global financial system, she said.
"As Iranian and other bad actors attempt to misuse digital currency to facilitate illicit activity, financial institutions, including exchangers and other providers of digital currency services, must guard against the risks of assisting these malicious actors," she said.
Specifically, crypto companies must take steps to ensure that "malicious actors," such as those listed on the SDN 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.
Perhaps more notably, however, she called for other nations to develop or enforce anti-money laundering and combating the financing of terrorism (AML/CFT) regulations, saying:
"While the United States regulates, supervises, and brings enforcement actions relating to virtual currency and other digital asset financial activity, many more countries must follow suit. We have made this a priority in our international outreach, including through the Financial Action Task Force (FATF), for which the United States is currently serving as President."
In addition to targeted actions, the U.S. is regulating crypto exchanges and other businesses in the space through the Financial Crimes Enforcement Network (FinCEN), she said.
A lack of these regulations, especially in the crypto space, allow individuals to conduct financial crimes, such as money laundering, particularly across jurisdictions.
Treasury Department image via Shutterstock
Більше для вас
BlackRock exec says 1% crypto allocation in Asia could unlock $2 trillion in new flows
During a panel discussion at Consensus in Hong Kong, Peach pointed to massive capital pools in traditional finance as ETF adoption spreads across Asia.
Що варто знати:
- Even a 1% crypto allocation in standard portfolios across Asia could translate into nearly $2 trillion of inflows, highlighting how modest shifts in asset allocation could transform the digital asset market, according to the head of APAC iShares at BlackRock, Nicholas Peach.
- BlackRock's iShares unit, whose U.S.-listed spot Bitcoin ETF IBIT has rapidly grown to about $53 billion in assets, is seeing strong demand from Asian investors as ETF adoption accelerates across the region.
- Regulators in markets such as Hong Kong, Japan and South Korea are moving toward broader crypto ETF offerings, but industry leaders say investor education and portfolio strategy will be critical to channeling traditional finance capital into digital assets.
Top Stories
