Treasury Seeking Feedback on Digital Assets-Related Sanctions Compliance, Risks
The Treasury Department is seeking public comments as it works to address illicit finance and national security risks related to digital assets. The request -- which came after President Joe Biden ordered various agencies to study and assess illegal uses…
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of cryptocurrencies and other digital assets (see 2203090067 and 2207130009) -- seeks feedback on “any matter that commenters believe is relevant to Treasury’s ongoing efforts to assess the illicit finance risks associated with digital assets as well as the ongoing efforts to mitigate the risks.” The agency specifically asked whether any areas are related to “sanctions obligations with respect to digital assets that require additional clarity” and whether Treasury can improve its current sanctions guidance for digital assets. The agency also asked for information on the types of “technological solutions” being used by companies in the digital asset sector to improve their sanctions compliance. Comments are due on or before Nov. 3.