Decentralized monetary transactions, together with these finished with digital currencies, must adjust to anti-money laundering and sanctions legal guidelines, the US Treasury Division stated in a brand new report.
The 39-page report, which was commissioned by the Biden administration, concludes there are a number of dangers related to DeFi expertise, which has no precise definition however consists of self-executing transactions between two or extra folks based mostly on the identical blockchain expertise that underpins cryptocurrencies. These dangers embody abuse by “ransomware cybercriminals, thieves, scammers, and Democratic Folks’s Republic of Korea (DPRK) cyber actors,” based on Treasury.
The report, which comes because the US and different international locations …
