The U.S. Financial Services Committee will discuss illegal activities related to cryptocurrency at a hearing on November 15

2023-11-13 22:00:19

Collection

ChainCatcher news, according to Cointelegraph, the Financial Services Commission (FSC) of the United States plans to hold a hearing on November 15 to delve into illegal activities within the cryptocurrency ecosystem. The theme of the hearing is "The Context of Cryptocurrency Crime: Combating Illegal Activities in Digital Assets."

Bill Hughes, Senior Advisor and Global Head of Regulatory Affairs at Consensys, and Jonathan Levin, Co-founder and Chief Strategy Officer of Chainalysis, will testify at the hearing. Discussions surrounding illegal activities such as money laundering and terrorist financing will be the focus of the hearing. The FSC cited a Chainalysis report from January 2023, which indicated that the amount of illegal cryptocurrency reached an all-time high due to a surge in sanctioned designations and hacking incidents.

The hearing will also review the depth of anti-money laundering and counter-terrorist financing (AML/CTF) measures implemented by cryptocurrency exchanges and DeFi providers. Additionally, the roles of regulatory entities such as the Financial Crimes Enforcement Network (FinCEN), the Office of Foreign Assets Control (OFAC), and the Department of Justice (DOJ) will also be discussed at the hearing.

(Source Link)

Related tags

FSC

ChainCatcher reminds readers to view blockchain rationally, enhance risk awareness, and be cautious of various virtual token issuances and speculations. All content on this site is solely market information or related party opinions, and does not constitute any form of investment advice. If you find sensitive information in the content, please click "Report", and we will handle it promptly.