The U.S. Deputy Treasury Secretary, Wally Adeyemo, has approached the American Congress with a proposal to enhance the capabilities and resources of his department in combating violations in the cryptocurrency sphere. He advocates for expanding the Treasury's authority to monitor transactions beyond the U.S. borders, including those not involving American citizens.

Adeyemo has proposed introducing a new type of secondary sanctions against cryptocurrency exchanges that support terrorist activities. This would allow the U.S. government to apply the same measures to virtual asset providers as it does to bank accounts associated with terrorism. According to him, this will not only exclude violators from the U.S. financial system but also affect any organization that continues to cooperate with sanctioned individuals.

Additionally, Adeyemo called on Congress to expand the Treasury's powers in line with the Bank Secrecy Act (BSA), enabling the department to specifically target cryptocurrency organizations and services that facilitate the financing of terrorism. He suggests including a new category of financial institutions in the BSA, covering cryptocurrency exchanges, wallets, node validators, DeFi projects, and other entities dealing with virtual assets.

Previously, Adeyemo criticized cryptocurrency companies for their reluctance to cooperate with authorities in countering the financing of terrorism and money laundering. He warned that if the industry does not take independent measures, the U.S. government will take the necessary steps.