US says some digital asset firms not doing enough to stop illicit finance

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LONDON, Oct 27 — The United States today said some firms in the digital asset space were not doing enough to stop the flow of illicit finance — a subject which has come under...

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US Deputy Treasury Secretary Wally Adeyemo, speaking at an event in London, said the “vast majority” of financial institutions want to help root out terrorist financing. “Our expectation is that financial institutions and digital asset companies and others in the virtual currency ecosystem take steps to prevent terrorists from being able to access resources. If they do not act to prevent illicit financial flows, the United States and our partners will,” Adeyemo added.The US last week issued sanctions aimed at disrupting funding for Hamas, singling out people involved in its investment portfolio and a Gaza-based cryptocurrency exchange among other targets.

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