Trading & Financial News
No Result
View All Result
Saturday, June 28, 2025
  • Login
  • Economy
  • Markets
  • Forex News
  • Investing
  • Stock Trading
  • Crypto
Subscribe
Trading & Financial News
  • Economy
  • Markets
  • Forex News
  • Investing
  • Stock Trading
  • Crypto
No Result
View All Result
Trading & Financial News
No Result
View All Result
Home Forex News

US says some crypto firms not doing enough to stop illicit finance By Reuters

by Tradinghow
October 27, 2023
in Forex News
A A
0
US says some crypto firms not doing enough to stop illicit finance By Reuters
152
SHARES
1.9k
VIEWS
Share on FacebookShare on Twitter


© Reuters. FILE PHOTO: U.S. Deputy Treasury Secretary Wally Adeyemo speaks at the Royal United Services Institute in London, Britain, October 27, 2023. REUTERS/Hannah McKay/File Photo

By Elizabeth Howcroft and Andrew MacAskill

LONDON (Reuters) -The United States on Friday said some firms in the digital asset space were not doing enough to stop the flow of illicit finance – a subject which has come under renewed scrutiny following the deadly attacks in Israel by Palestinian militant group Hamas.

U.S. Deputy Treasury Secretary Wally Adeyemo, speaking at an event in London, said the “vast majority” of financial institutions want to help root out terrorist financing.

But, he said: “there are those, especially (in) the digital asset space, who wish to innovate without regards to its consequences, including protecting against illicit finance.”

“Our expectation is that financial institutions and digital asset companies and others in the virtual currency ecosystem 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 added.

Adeyemo is on a visit to London and then to Brussels as part of efforts by the U.S. government to coordinate a crackdown on Hamas using parts of the international finance system to bypass international sanctions.

The U.S. last week issued sanctions aimed at disrupting funding for Hamas, singling out people involved in its investment portfolio and a Gaza-based cryptocurrency exchange among other targets.

On Friday, the U.S. Treasury issued a second round of sanctions that targeted additional assets in a Hamas investment portfolio and people it said were facilitating sanctions evasion by Hamas-affiliated companies.

TRACKING CRYPTO

Cryptocurrency wallet addresses are pseudonymous, meaning people can send and receive cryptocurrency without revealing their identity.

But U.S. Treasury officials said on Friday that groups such as Hamas can be identified at the point where they try to convert cryptocurrencies into traditional currencies, such as the dollar, which can be used to make purchases. Officials said identifying these points, including outside of the U.S., is a big part of their work.

Asked whether crypto firms were willing to help solve the problem, the officials said that firms at first say they have little knowledge or control over how their platforms are used, but then change their attitude over time once the U.S. Treasury makes it clear that, if the firm does not take action itself, the Treasury can act.

Adeyemo said that although crypto did not currently make up the majority of funding for terrorist groups and other groups seeking to hide their money, the U.S. was taking action now to prevent the technology being more widely used for illicit finance in future.

The U.S. Treasury Department’s Financial Crimes Enforcement Network (FinCEN) last week proposed increasing transparency around cryptocurrency “mixers”, to combat the use of the tool by malicious actors, including Hamas.

https://primexbt.investments/start_trading/?cxd=459_549985&pid=459&promo=[afp7]&type=IB https://primexbt.investments/start_trading/?cxd=459_549985&pid=459&promo=[afp7]&type=IB https://primexbt.investments/start_trading/?cxd=459_549985&pid=459&promo=[afp7]&type=IB



Source link

  • Trending
  • Comments
  • Latest
The Evolving International Cannabis Landscape

The Evolving International Cannabis Landscape

March 20, 2024
UK Faces Two Decades of No Earnings Growth and More Austerity

UK Faces Two Decades of No Earnings Growth and More Austerity

July 29, 2023
Uniswap Launches Permissionless Bridging Across 9 Networks

Uniswap Launches Permissionless Bridging Across 9 Networks

October 24, 2024
China tech groups lead multibillion-dollar campaign to help exporters sell at home

China tech groups lead multibillion-dollar campaign to help exporters sell at home

April 20, 2025
High Street Retailers Pin Hopes On Discount Splurge In Black Friday Fever

High Street Retailers Pin Hopes On Discount Splurge In Black Friday Fever

0
UK Faces Two Decades of No Earnings Growth and More Austerity

UK Faces Two Decades of No Earnings Growth and More Austerity

0
Learn how to trade. For beginners

Learn how to trade. For beginners

0
Trading for beginners

Trading for beginners

0
Nigerian billionaire, Dangote, sets ambitious goal with .5 billion fertilizer plant

Nigerian billionaire, Dangote, sets ambitious goal with $2.5 billion fertilizer plant

June 27, 2025
Crizac fixes IPO price band at ₹233-245

Crizac fixes IPO price band at ₹233-245

June 27, 2025
Analyzing the Russell Indexes Last Annual Reconstitution

Analyzing the Russell Indexes Last Annual Reconstitution

June 27, 2025
China’s ‘Summer Davos’ offers rare respite from trade war

China’s ‘Summer Davos’ offers rare respite from trade war

June 27, 2025

Recent News

Nigerian billionaire, Dangote, sets ambitious goal with .5 billion fertilizer plant

Nigerian billionaire, Dangote, sets ambitious goal with $2.5 billion fertilizer plant

June 27, 2025
Crizac fixes IPO price band at ₹233-245

Crizac fixes IPO price band at ₹233-245

June 27, 2025

Categories

  • Business
  • Crypto
  • Economy
  • Forex News
  • Investing
  • Markets
  • More
  • Stock Trading
  • Trading for beginners

Site Navigation

  • Home
  • Contact Us
  • Stock Trading
  • Markets
  • Investing
  • Other Links
  • Privacy & Policy
Trading & Financial News

We bring you the fastest breaking news on Trading, forex, and finance submitted from credible and reliable news sources around the world.

© 2023 Tradinghow Useful forex analysis and financial news, submitted by credible news sources around the world.tradinghow.

No Result
View All Result
  • Contact Us
  • Home
  • Economy
  • Crypto
  • Investing
  • Markets
  • Forex News
  • Stock Trading

© 2023 Tradinghow Useful forex analysis and financial news, submitted by credible news sources around the world.tradinghow.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In