US Deputy Treasury Secretary calls for additional tools to sanction crypto firms

Wally Adeyemo, Deputy Secretary of the United States Treasury, said his department is looking into new sanctions tools to pursue bad actors in the crypto space, citing a recent settlement with Binance.

In prepared remarks for the Blockchain Association’s Policy Summit on Nov. 29, Adeyemo said the U.S. Treasury had called on Congress to allow sanctions in which an entity could be fully cut off from the U.S. financial system. The Deputy Treasury Secretary said the move aimed to stop bad actors like the terrorist organization Hamas from “find[ing] safe haven within the digital asset ecosystem,” but also referenced U.S. authorities’ settlement with crypto exchange Binance.


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