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US Treasury official asks Congress for more authority to oversee terrorists' crypto use in money laundering

( April 9, 2024, 19:26 GMT | Official Statement) -- MLex Summary: US Deputy Treasury Secretary Wally Adeyemo asked lawmakers for more tools to block terrorists from circumventing sanctions for cryptocurrency. In testimony before the Senate Banking Committee, he cited crypto transfers by the Islamic Revolutionary Guard Corps-Qods Force to Hamas and the Palestinian Islamic Jihad in Gaza over the past year. Treasury is asking Congress to create a secondary sanctions regime, or regime aimed at foreign countries; update Bank Secrecy Act definitions to further capture virtual assets; and give Treasury’s Office of Foreign Assets Control jurisdiction over dollar-denominated stablecoins.Statement follows below:...

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