Theta Network (theta) 
The U.S. Treasury is seeking more authority to address the misuse of cryptocurrencies by countries like Iran, Russia, and North Korea. Deputy Secretary Adewale Adeyemo highlighted the challenges posed by malicious actors who are using virtual currencies to hide their identities and move resources.
Terrorist groups and other actors are finding new ways to finance their activities, with Iran’s Quds Force using crypto to fund militant groups like Hamas and the Palestinian Islamic Jihad. North Korea and Russia are also turning to cryptocurrencies to evade sanctions.
The U.S. Treasury is looking to implement a new secondary sanctions tool to target overseas crypto exchanges that pose threats to national security. Recent investigations have focused on transactions exceeding $20 billion passing through the Russian-sanctioned exchange Garantex, raising concerns about potential sanctions breaches.
While the specifics of the secondary sanctions tool are still unclear, the U.S. Treasury aims to address the challenges posed by the use of cryptocurrencies for illicit activities. Stay informed about the latest developments in the cryptocurrency world on Global Crypto News.
