“Digital assets and payments systems could harm the efficacy of our sanctions” if left unchecked, the Treasury said.
The United States Department of the Treasury has issued a review on sanctions and suggested the government do more to develop its infrastructure and policies in regards to digital assets.In an Oct. 18 report, the Treasury Department said the growing use of digital assets was hampering the implementation of sanctions while balancing funds from legitimate humanitarian organizations. The department suggested that better communication between itself and the crypto industry, financial institutions, and others in addition to “deepening its institutional knowledge and capabilities” could help improve current policy. “Sanctions are a fundamentally important tool to advance our national security interests,” said Deputy Treasury Secretary Wally Adeyemo. “Treasury’s sanctions review has shown that this powe
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