US says some digital asset firms not doing enough to stop illicit finance

The United States has called out digital asset firms for not doing enough to stop the flow of illicit finance. US Deputy Treasury Secretary Wally Adeyemo stated that while most financial institutions want to help root out terrorist financing, some in the digital asset space prioritize innovation over protecting against illicit finance. Adeyemo warned that if these companies do not take steps to prevent illicit financial flows, the US and its partners will take action.