Major US Exec Issues Warning to Crypto Industry

Major US Exec Issues Warning to Crypto Industry

StablecoinUSA

By Miles

30 Nov 2023 (6 months ago)

1 min read

Share:

Deputy Treasury Secretary Adeyemo warns of stablecoin misuse for terrorism, urges crypto firms to act responsibly.

At a Blockchain Association event in Washington, Deputy Treasury Secretary Wally Adeyemo warned about stablecoins' misuse. He focused on stablecoins backed by the US dollar but run outside the US. He spoke about the importance of the need to prevent these platforms from being used for terrorism.

Adeyemo's comments likely referred to Tether (USDT), though he didn't name it directly. He expressed disappointment that the cryptocurrency industry hasn't stopped criminals and terrorists from using the currency.

He further commented about the cryptocurrency industry's lack of action as a national security risk, pointing out Binance as an example used by terrorists and drug dealers.

Adeyemo warned companies involved in illegal crypto activities that they would be held accountable. He suggested the crypto industry should learn about sharing information from the US banking system.

ShareFacebookTelegram
Go back to All News
Previous article

Investors Interest in Bitcoin Rise as ProShares Bitcoin ETF Hits $1.47B

Investors Interest in Bitcoin Rise as ProShares Bitcoin ETF Hits $1.47B
Next article

Swiss Firm Files for Bitcoin ETF: Analysts Fear Approval Delay

Swiss Firm Files for Bitcoin ETF: Analysts Fear Approval Delay