WASHINGTON—The burgeoning decentralized cryptocurrency market threatens U.S. national security and needs greater oversight and enforcement against money-laundering, the U.S. Treasury Department said on Thursday. The warning, in a new Treasury report asse
WASHINGTON—The burgeoning decentralized cryptocurrency market threatens U.S. national security and needs greater oversight and enforcement against money-laundering, the U.S. Treasury Department said on Thursday. The warning, in a new Treasury report assessing the risk of the so-called DeFi markets, lays the foundation for tougher regulations and punitive action by federal agencies. Ransomware hackers, rogue states and other national security threats have seized upon the market’s opaqueness to move money around the world without detection, facilitating the financing critical to their operations, the Treasury Department report said.