U.S. Financial Regulators Are Signaling A Potential Crypto Crackdown This Summer
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The U.S. Treasury Deputy Secretary Wally Adeyemo spoke at Consensus 2022, one of the largest crypto conferences in the world. He cited in his speech the shutdown of the Russian darknet marketplace Hydra and the virtual currency exchange Garantex sanctioned for enabling ransomware. The Treasury Department would be working with FATF to help with international standards regarding ways of identifying illicit actors. The Department of the Treasury would be focused on the unique risks associated with unhosted wallets, which are effectively just addresses on a blockchain, it can be difficult to determine who really owns and controls them—creating opportunities to abuse this heightened anonymity,” he said. However, this speech yesterday is not the first sign of a major financial regulator signaling a major regulatory crackdown. Source