Treasury urges crypto companies to ‘prevent’ terrorist financing

The US Treasury’s Deputy Secretary, Wally Adeyemo, has warned crypto firms to ensure that terrorist organizations are not able to use crypto to raise funds.

“Our expectation is that financial institutions and digital asset companies and others in the virtual currency ecosystem will take steps to prevent terrorists from being able to access resources. If they do not act to prevent illicit financial flows, the United States and our partners will,” Adeyemo said in a speech in London on Friday.

The Treasury Department’s deputy secretary added that it’s “committed to engaging” with crypto firms on the steps needed to prevent organizations like Hamas from moving funds.


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