TechFlow reported, according to The Wall Street Journal, Wally Adeyemo, Deputy Treasury Secretary of the United States, said Tuesday in Washington at the Securities Industry and Financial Markets Association annual meeting that the Biden administration hopes Congress will grant new powers to help combat illegal use of cryptocurrencies. He noted that Hamas has openly sought to raise funds through cryptocurrencies, which "has brought greater attention to the illicit financial uses of digital assets."
He stated that the Treasury Department has been communicating with both Democrats and Republicans regarding potential actions they might take, that Congress needs to act in certain areas, and that the Treasury will continue taking measures while working with lawmakers to urge the cryptocurrency industry to innovate responsibly. In addition, Adeyemo called on the crypto industry to self-regulate.
