US President Joe Biden appears to be increasingly convinced of the need for new crypto regulation.
Indeed, according to rumours circulating today, his staff has asked Congress to lend a hand in the fight against the illicit use of cryptocurrencies.
Biden: Request to Congress for new crypto regulation
The leak was reported by the Wall Street Journal, according to which Deputy Treasury Secretary Wally Adeyemo said that the Biden administration wants to get new powers from Congress to help crack down on the illicit use of cryptocurrencies.
Specifically, this concerns digital asset flows allegedly linked to the Palestinian militant group Hamas, which the US government would be partially powerless to stop.
Note that Hamas does not fall under US jurisdiction, nor would any donations from other states.
In other words, if such cryptocurrency donations come from other countries and never pass through US platforms, the Biden administration should have no power to intervene.
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