TechFlow News: The U.S. Department of the Treasury is urging lawmakers to grant it new enforcement and sanctioning powers, including authority over cases outside the United States that do not involve domestic transactions. According to the proposal, Congress should provide the Treasury with "new secondary sanctions tools" to target exchanges supporting terrorism. Additionally, the U.S. government is seeking control over Tether. The proposal suggests that "legislation could explicitly authorize OFAC to exercise extraterritorial jurisdiction over transactions involving dollar-pegged stablecoins (or other dollar-denominated transactions) as it typically does with U.S. dollar transactions," even when these transactions have no direct connection to the United States.
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