US Treasury asks politicians to give it more enforcement powers to sanction cryptocurrency exchanges

Adewale O. Adeyemo, Deputy Secretary of the U.S. Treasury, said in written testimony before a Senate hearing on Tuesday, "Our concern is that actors are increasingly finding ways to use virtual currencies to conceal their identities and transfer resources." The U.S. Treasury is calling on politicians to give it more enforcement powers to combat foreign encryption service providers as part of its goal to protect national security. Adewale O. Adeyemo also claimed that Hamas and the Palestinian Islamic Jihad group obtained encrypted currency from Iran.