U.S. Treasury Proposes Measures Against Illicit Activities in Cryptocurrencies to Congress, Including AML Regulations for DeFi

Similarities with the Clarity Act

Earlier this month, the U.S. Treasury released a report on technologies to combat illegal activities related to digital assets and submitted it to the U.S. Congress.

Based on last year's 'Genius Act', the report investigates strategies that financial institutions can use to counteract money laundering and sanction evasion using cryptocurrencies.

Alex Thorn, Head of Research at Galaxy Research, commented that the report includes ongoing deliberations on the structure of the cryptocurrency market...