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Treasury Seeks Expanded Powers to Combat Illicit Finance
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Overview
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Treasury Department seeks expanded powers to combat illicit finance involving digital assets, including the creation of a secondary sanction regime and updates to illicit finance authorities. The department aims to prevent dollar-backed stablecoin providers outside the US from enabling terrorists and to address jurisdiction-evasion tactics by offshore financial services providers.
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How might the expanded powers of the Treasury Department impact the regulation of digital assets?
How might this initiative influence the development of stablecoin providers outside the US?
What are the potential implications of addressing jurisdiction-evasion tactics by offshore financial services providers?
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