US says some digital asset firms not doing enough to stop illicit finance

The United States on Friday said some firms in the digital asset space were not doing enough to stop the flow of illicit finance.
Cryptocurrency’s role in terrorist financing and funding militant groups has come under renewed scrutiny following the deadly attacks in Israel by Palestinian militant group Hamas.
U.S. Deputy Treasury Secretary Wally Adeyemo, speaking at an event in London, said the “vast majority” of financial institutions want to help root out terrorist financing.
But, he said: “there are those, especially (in) the digital asset space, who wish to innovate without regards to its consequences, including protecting against illicit finance.”