Brian Nelson tells House lawmakers that despite the agency’s authority to hold firms such as Binance accountable, more powers are needed.
A United States Treasury official has expressed concerns regarding crypto in illicit finance in a statement to the House Financial Services Committee, asking for more authority to go after bad actors. The committee hearing is set for Feb. 15.
The Treasury’s Under Secretary for Terrorism and Financial Intelligence, Brian Nelson, emphasized this request in his prepared statement for a congressional hearing on terrorism and cryptocurrency crimes.
Nelson’s statement coincides with increased attention from Washington lawmakers, including Senator Elizabeth Warren, who has been pushing her Anti-Money Laundering bill. The Digital Asset Anti-Money Laundering Act (DAAMLA), which Warren reintroduced to the U.S. Senate in July 2023, explicitly targets illicit uses of crypto assets for money laundering and financing terrorism.
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Source: https://cointelegraph.com/news/us-treasury-congress-power-crypto-crime