US Treasury Seeks Public Comments on Crypto-Related Illicit Finance and National Security Risks – Regulation Bitcoin News

0


The U.S. Division of the Treasury is looking for public enter on “digital-asset-related illicit finance and nationwide safety dangers.” The division warned: “The rising use of digital property in monetary exercise heightens dangers of crimes similar to cash laundering, terrorist and proliferation financing, fraud and theft schemes, and corruption.”

US Treasury Desires Public Feedback on Crypto-Associated Illicit Finance

The U.S. Division of the Treasury revealed a discover Tuesday inviting “ members of the general public to offer enter pursuant to The Govt Order of March 9, 2022, ‘Making certain Accountable Growth of Digital Belongings.’” The discover provides:

The division invitations feedback on the digital-asset-related illicit finance and nationwide safety dangers in addition to the publicly launched motion plan to mitigate the dangers.

“Treasury welcomes enter on any matter that commenters consider is related to Treasury’s ongoing efforts to evaluate the illicit finance dangers related to digital property in addition to the continued efforts to mitigate the dangers,” the discover provides. Feedback should be obtained on or earlier than Nov. 3.

“The rising use of digital property in monetary exercise heightens dangers of crimes similar to cash laundering, terrorist and proliferation financing, fraud and theft schemes, and corruption,” the Treasury detailed. “These illicit actions spotlight the necessity for ongoing scrutiny of the usage of digital property, the extent to which technological innovation might impression such actions, and exploration of alternatives to mitigate these dangers by means of regulation, supervision, public-private engagement, oversight, and regulation enforcement.”

The Treasury requested solutions to a listing of questions regarding illicit finance dangers regarding digital property, non-fungible tokens (NFTs), decentralized finance (defi), and peer-to-peer applied sciences.

The questions concentrate on illicit finance dangers; anti-money laundering and countering the financing of terrorism (AML/CFT) regulation and supervision; international implementation of AML/CFT requirements; personal sector engagement and AML/CFT options; and central financial institution digital currencies (CBDCs).

One of many questions asks how the Treasury can “most successfully assist constant implementation of worldwide AML/CFT requirements throughout jurisdictions for digital property.” As well as, the Treasury requested whether or not there are particular international locations or jurisdictions the place the U.S. authorities ought to focus its efforts “to strengthen overseas AML/CFT regimes associated to digital asset service suppliers.” The total record of questions might be discovered right here.

What do you consider the U.S. Treasury looking for feedback on crypto-related illicit finance? Tell us within the feedback part under.

Kevin Helms

A pupil of Austrian Economics, Kevin discovered Bitcoin in 2011 and has been an evangelist ever since. His pursuits lie in Bitcoin safety, open-source methods, community results and the intersection between economics and cryptography.

Picture Credit: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This text is for informational functions solely. It’s not a direct provide or solicitation of a suggestion to purchase or promote, or a advice or endorsement of any merchandise, providers, or corporations. Bitcoin.com doesn’t present funding, tax, authorized, or accounting recommendation. Neither the corporate nor the writer is accountable, straight or not directly, for any harm or loss brought about or alleged to be brought on by or in reference to the usage of or reliance on any content material, items or providers talked about on this article.

Extra Widespread Information

In Case You Missed It



Source link

Leave A Reply

Your email address will not be published.

bitcoin
Bitcoin (BTC) $ 19,073.50
ethereum
Ethereum (ETH) $ 1,322.39
tether
Tether (USDT) $ 0.999765
usd-coin
USD Coin (USDC) $ 1.00
bnb
BNB (BNB) $ 271.29
xrp
XRP (XRP) $ 0.445857
binance-usd
Binance USD (BUSD) $ 1.00
cardano
Cardano (ADA) $ 0.440867
solana
Solana (SOL) $ 32.50
dogecoin
Dogecoin (DOGE) $ 0.060466
polkadot
Polkadot (DOT) $ 6.34
shiba-inu
Shiba Inu (SHIB) $ 0.000011
dai
Dai (DAI) $ 0.999797
staked-ether
Lido Staked Ether (STETH) $ 1,317.59
matic-network
Polygon (MATIC) $ 0.737781
tron
TRON (TRX) $ 0.059210
avalanche-2
Avalanche (AVAX) $ 17.11
uniswap
Uniswap (UNI) $ 6.31
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 19,048.98
cosmos
Cosmos Hub (ATOM) $ 13.38
ethereum-classic
Ethereum Classic (ETC) $ 28.07
okb
OKB (OKB) $ 15.40
leo-token
LEO Token (LEO) $ 4.10
chainlink
Chainlink (LINK) $ 7.77
litecoin
Litecoin (LTC) $ 52.20
ftx-token
FTX (FTT) $ 23.59
near
NEAR Protocol (NEAR) $ 3.59
crypto-com-chain
Cronos (CRO) $ 0.110749
stellar
Stellar (XLM) $ 0.110140
monero
Monero (XMR) $ 143.47
algorand
Algorand (ALGO) $ 0.344486
bitcoin-cash
Bitcoin Cash (BCH) $ 114.13
terra-luna
Terra Luna Classic (LUNC) $ 0.000274
quant-network
Quant (QNT) $ 135.77
flow
Flow (FLOW) $ 1.65
apecoin
ApeCoin (APE) $ 5.38
filecoin
Filecoin (FIL) $ 5.66
vechain
VeChain (VET) $ 0.022595
internet-computer
Internet Computer (ICP) $ 6.07
chain-2
Chain (XCN) $ 0.072287
hedera-hashgraph
Hedera (HBAR) $ 0.058377
frax
Frax (FRAX) $ 1.00
chiliz
Chiliz (CHZ) $ 0.245904
tezos
Tezos (XTZ) $ 1.44
the-sandbox
The Sandbox (SAND) $ 0.842765
decentraland
Decentraland (MANA) $ 0.692180
eos
EOS (EOS) $ 1.15
axie-infinity
Axie Infinity (AXS) $ 12.33
theta-token
Theta Network (THETA) $ 1.08
aave
Aave (AAVE) $ 75.67
Shares