Cryptocurrency

United

Bank AI

The US Treasury Department has issued a stern warning about the increasing use of cryptocurrencies by criminals, fraudsters and other illicit elements.
The warning was part of three national risk assessment reports published on Wednesday, focusing on Money Laundering, Terrorist Financing and Proliferation Financing.
Reports highlight increasing threats, vulnerabilities, and risks related to illicit financing in the United States. The Treasury has detailed how bad actors launder funds using cash and increasingly cryptocurrencies to commit fraud, drug trafficking, people smuggling and corruption.
The Treasury plans to publish a strategic plan in the coming weeks, which will share recommendations for addressing the issues highlighted in today's reports.
Related News: <a href="https://en.bitcoinsistemi.com/analyst-warned-there-may-be-a-short-term-decline-in-the-cryptocurrency-market-due-to-the-fed/" target="_blank" rel="noopener noreferrer nofollow">Analyst Warned: "There May Be a Short-Term Decline in the Cryptocurrency Market Due to the FED"</a>
“Although laundering of drug trafficking proceeds is predominantly cash-based, the use of virtual assets is a growing concern for U.S. law enforcement,” the Treasury said in its money laundering report.
The ministry also noted that Virtual Asset Service Providers (VASPs), which it defines as an exchange between virtual assets and fiat currencies, among other things, generally do not comply with US requirements. This non-compliance occurs either by claiming that they are not subject to the rules or by not registering properly.
The Treasury also stated that Decentralized Finance (DeFi) service, a financial system under the Bank Secrecy Act, must comply with Anti-Money Laundering/Combating the Financing of Terrorism (AML/CFT) rules.
*This is not investment advice.
 Continue Reading: <a href="https://en.bitcoinsistemi.com/us-treasury-department-issues-stern-warning-on-the-use-of-cryptocurrencies/" rel="noopener noreferrer nofollow">US Treasury Department Issues Stern Warning on the Use of Cryptocurrencies</a>

US Treasury Department Issues Stern Warning on the Use of Cryptocurrencies

Bitcoin Sistemi EN

2024년 2월 7일에 게재된 다른 기사

Bittensor (TAO) Surges 100%, Eyeing $3 Billion Market Cap: Analyzing The Propelling Factors

Blockchain Life 2024 in Dubai - Waiting for ToTheMoon

Hottest Altcoins on the Rise: February 2024’s Standout Crypto Innovations and Must-Have Coins (Ap...

KoinBay - Simplifying Crypto Trading with a Centralized Exchange

Just In: Ark 21Shares Adds Staking Clause to Ethereum ETF Filing

Inside Fantom’s Strategy to Build a Decentralized Tomorrow

무료 뉴스레터에 가입하여 매일 최신 암호화폐 소식을 받아보세요!