The Week in Crypto Policy: Treasury Asks Congress for More Power

George Leonardo

Dec 1, 2023 ⋅ 8 min read

Treasury asked Congress to significantly expand its surveillance and enforcement powers under the Bank Secrecy Act and sanctions law to combat illicit financial activity involving crypto. Treasury also sanctioned Blender.io, alleging the mixing service was used by North Korean-affiliated hacker groups to launder money. Rep. French Hill (R-AR) said market structure and stablecoin legislation will be considered early next year on the House floor - not as part of this year's National Defense Authorization Act.

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George Leonardo

51 Reports CapHillCrypto

George Leonardo is the founder of Cap Hill Crypto, a solo-entrepreneur venture focused on providing nonpartisan insights and analysis on U.S. federal crypto policy. Previously, he worked on Capitol Hill for Senator John Cornyn and as a litigation associate at Milbank LLP.

About the author

George Leonardo

George Leonardo is the founder of Cap Hill Crypto, a solo-entrepreneur venture focused on providing nonpartisan insights and analysis on U.S. federal crypto policy. Previously, he worked on Capitol Hill for Senator John Cornyn and as a litigation associate at Milbank LLP.

51 Reports CapHillCrypto