What is the U.S. Treasury’s Role in Crypto Regulation?
The U.S. Treasury is ramping up its regulatory efforts in the fast-changing world of cryptocurrency. Recently, the Department of the Treasury started a public consultation that aims to examine how digital identity and new technologies can help combat crime in crypto markets. This initiative is a direct result of the GENIUS Act, which became law in July and lays down the groundwork for stablecoin issuers. The Act encourages the Treasury to look for solutions beyond traditional regulatory means, including Artificial Intelligence (AI), to bolster oversight and cut down on illicit activities.
How Does Digital Identity Verification Impact User Privacy?
The incorporation of digital identity verification into cryptocurrency introduces a…
