At the Blockchain Association Policy Summit, when asked about the U.S. Treasury Department's cryptocurrency proposals, Rep. Tom Emmer of Minnesota, a member of the House Financial Services Committee, slammed the U.S. Treasury Department's proposal to strengthen control over cryptocurrencies, criticizing the agency for having a "messian-like complex," according to Golden Finance. The U.S. Treasury Department made recommendations to lawmakers this week, including one on new sanctions tools, and another that would strengthen its authority over dollar-based stablecoins. Deputy Secretary Wally Adeyemo said that "dollar-backed stablecoin providers" outside the U.S. can't use the U.S. dollar without putting in place procedures to stop terrorists from using its platform. "They wanted to incorporate that into the surveillance security posture they created," Emmer said. We can't let it happen, it's the purview of Congress, not his."

According to Deputy Secretary of the Treasury Wally Adeyemo's speech at the Blockchain Association's Policy Summit, the U.S. Treasury Department is asking Congress to give it more powers to track down illegal actors in the digital asset industry, according to Golden Finance. According to Adeyemo, the Ministry of Finance made recommendations to lawmakers, including a proposal for a new sanctions tool. "We call on Congress to establish a secondary sanctions regime that would not only disconnect a company from the U.S. financial system, but also any company that continues to do business with sanctioned entities from the U.S. financial system," he said. This is an important tool that we don't ask for lightly. But we need to do everything we can to ensure that groups like Hamas can't exploit holes in the digital asset ecosystem. ” Adeyemo also said that "dollar-backed stablecoin providers" outside the U.S. should not use U.S. dollars without procedures in place to stop terrorists from using its platform.

In his speech, U.S. Deputy Secretary of the Treasury Wally Adeyemo said that the cryptocurrency industry needs to strengthen its prevention of bad behavior, and Congress should provide recommendations.

PANews reported on November 29 that, according to Bloomberg, U.S. Deputy Secretary of the Treasury Wally Adeyemo said that the Biden administration is asking Congress to consider the toughest reform of the Treasury Department's sanctions powers since the 2001 terrorist attacks to help combat the use of digital assets in illicit finance. "We call on Congress to establish a secondary sanctions regime that will not just exclude a company from the U.S. financial system, as it will also expose that any company that continues to do business with sanctioned entities will also be cut off," Adeyemo said. ” Adeyemo said the Treasury Department on Tuesday "provided Congress with a series of common-sense recommendations to expand our powers and expand our tools and resources to hunt down illegal actors in the digital asset space."

U.S. Deputy Secretary of the Treasury Wally Adeyemo said at the annual meeting of the Securities Industry and Financial Markets Association in Washington on Tuesday that the Biden administration wants Congress to give new powers to help combat cryptocurrency illegality. Adeyemo mentioned that Hamas has openly sought to raise funds through cryptocurrencies, which has led to "increased attention to the illicit financial use of digital assets." Adeyemo said the Treasury Department has been communicating with Democrats and Republicans about possible actions they may take. The Treasury will continue to act and will work with parliament to urge the cryptocurrency industry to innovate responsibly. In addition, Adeyemo called on the crypto industry to self-regulate. （WSJ）

According to the Wall Street Journal, a senior U.S. Treasury Department official said that the Biden administration wants Congress to give new powers to help combat the illegal use of cryptocurrencies, citing the alleged connection of digital asset flows to the Palestinian militant group Hamas. Deputy Secretary of the Treasury Wally Adeyemo said at the annual meeting of the Securities Industry and Financial Markets Association, a trade group, in Washington that the Treasury Department has been in communication with Democrats and Republicans about what they can do. "We think Congress needs to act on certain areas, and we're going to work with Congress to get more tools," he said. ” Wally Adeyemo added that the Treasury will continue to act on its own and will work with lawmakers to urge the cryptocurrency industry to innovate responsibly.

PANews News on October 27, US Deputy Secretary of the Treasury Wally Adeyemo said in a speech at the Royal Joint Service Institute in London, United Kingdom, that it is working with global partners and allies to strengthen information sharing and collaboration to deal with terrorist financing. It recently sanctioned a Gaza-based virtual currency exchange and its operators, which has been used by several terrorist groups, including Hamas, to move money. Measures have also been taken to address the systemic illicit financial risks posed by virtual currency hybridization, a service that is often abused by illegal actors. The U.S. Treasury Department is committed to working with financial institutions, digital asset companies, and others to take steps to prevent terrorists from moving funds. According to Wally Adeyemo, some in the digital asset space want to innovate recklessly, rather than responsibly, including preventing illicit financing. Financial institutions and digital asset companies, as well as others in the virtual currency ecosystem, are expected to take steps to prevent terrorists from acquiring resources. If they don't take action to stop illicit financial flows, the United States and our partners will.

U.S. Deputy Treasury Secretary Wally Adeyemo said the department is working with financial institutions and digital asset companies to "take steps to prevent terrorists from moving funds." However, he added that some companies in the digital asset space "want to innovate without considering the consequences, including guarding against illicit financing." ” Adeyemo added that the U.S. "will use all available tools" to combat platforms that provide resources for terrorists.