More Crypto Crackdown Coming? Treasury To Deliver Congressional Hearing In Quest To Fight Illicit Financing

The U.S. Treasury is set to voice its concerns about cryptocurrency’s role in illicit finance, seeking additional authority to combat the issue.

What Happened: Brian Nelson, the Treasury’s Under Secretary for Terrorism and Financial Intelligence, will present the agency’s concerns about the illegal use of cryptocurrencies, reported The Block.

This presentation will take place during a congressional hearing scheduled for this Wednesday.

Lawmakers in Washington have been focusing on the involvement of cryptocurrencies in illicit finance. Initiatives such as the anti-money laundering bill proposed by Sen. Elizabeth Warren and …

Full story available on Benzinga.com