U.S. Treasury Recommends DeFi Regulations to Combat Financial Crimes

The U. S. Treasury has submitted a report to Congress under the GENIUS Act, suggesting that decentralized finance (DeFi) should be subject to anti-money laundering and counter-terrorism financing obligations. According to BlockBeats, the report also proposes the establishment of a 'hold law' safe harbor mechanism for digital assets, allowing institutions to temporarily freeze assets during investigations of suspicious transactions without a court order source: https://www.binance.com/en/square/post/299171910849330?utm_source=BinanceNewsRSS