US is calling on crypto asset firms to enhance their efforts in combating illicit financing

Amid the ongoing global crackdown on financial crimes and terrorism funding, the US government has expressed concerns about the perceived inadequacies in the efforts of certain companies operating in the cryptocurrency asset space.
The US government is particularly focused on the potential role of digital assets in facilitating illicit financial transactions. In response, it is urging companies to be more proactive in curbing such activities. This comes as part of broader efforts to strengthen anti-money laundering and anti-terrorist financing regulations within the cryptocurrency industry. KEEP READING