The U.S. Deputy Treasury Secretary, Wally Adeyemo, has warned digital asset companies about the need to prevent illicit financial flows. Speaking at London’s Royal United Services Institute, Adeyemo highlighted that some companies in the crypto industry are more focused on technological innovations and overlook the potential consequences of unlawful funds. He emphasized the importance of responsible innovation and protecting against illicit financing. Adeyemo stated that financial institutions and digital asset companies must take steps to prevent terrorists from accessing resources, or else the United States and its partners will take action. Concerns have been raised about the role of cryptocurrencies in funding terrorism, but it is important to note that terrorist organizations still predominantly rely on traditional fundraising channels. The commingling of illicit funds with legitimate ones is a problem, but it is necessary to interpret funding data with nuance.

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Information	Details
Geography	Middle East
Countries	🇺🇸 🇮🇱
Sentiment	negative
Relevance Score	1
People	Wally Adeyemo, None, Shlomit Wagman, Elizabeth Warren, John Fetterman
Companies	Royal United Services Institute, Senate Banking Committee, United States Department of the Treasury, Coinbase, Hamas
Currencies	Bitcoin
Securities	None