Today news
About the same in other media
Cryptocurrencies can undermine effectiveness of US sanctions: Treasury Department
Reading now: 443
The rising use of cryptocurrencies could undermine effectiveness of US economic and financial sanctions and potentially dent the role of the American dollar, the Treasury Department said on Monday.
Following a review on the US sanctions system, Treasury found that "while sanctions remain an essential and effective policy tool, they also face new challenges including rising risks from new payments systems, the growing use of digital assets, and cybercriminals."
Treasury sanctions work by blocking targets -- individuals, government officials or companies -- from using the US financial system, which in effect cuts them off from banking or profiting from trade in most of the world.
But digital currencies and alternative payment platforms "offer
Read more on moneycontrol.comAbout this in other media
US Treasury calls for urgent legislation on stablecoins finextra.com /3 years ago
US Treasury report says stablecoin legislation is 'urgently needed' to address risks cointelegraph.com /3 years ago
The major tax myths about cryptocurrency debunked cointelegraph.com /3 years ago
Show more
The website gocryptonft.com is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.
