US Treasury Secretary Janet Yellen wants more authority to combat illegal cryptocurrency use.
Cryptocurrencies were discussed in the Senate Banking Committee held yesterday. terrorism financing Its use in crimes such as was discussed.
Senator Sherrod Brown “We know that terrorist organizations such as Hamas, Al-Qaeda and Hazbollah use digital assets to raise and transfer money. “We have important tools to combat illicit financing, but most of them date back to before 9/11.” said.
Treasury Secretary Janet Yellen to combat terrorist organizations’ use of cryptocurrency that more powers would be useful to them told.
Yellen, “There are many powers that enable us to act, but we identified some gaps in our mandate and have prepared a list of suggestions on how and why the Department’s powers could be improved.” said.
Senators at the end of last year to give the Department more authority Preventing the Financing of Terrorism Act He suggested. If this is approved, the Ministry will foreign financial institutions and digital asset companies will have more authority to detect
Regarding this bill, Yellen said: “I agree that there are some hurdles that the Treasury faces, and we certainly support the intent of this bill. “It empowers us to better deal with a very serious threat.” said.