US Treasury weighs digital ID verification in DeFi to tackle illicit finance

US Treasury Plans On-Chain ID to Curb Crypto Crime

The US Treasury is asking the public for input on how new technology, including digital identity systems, could help limit illegal activity in cryptocurrency.

From NFT IDs to blockchain evidence, this startup wants to keep Nigerians out of jail

Turning IDs into NFTs and evidence into untouchable blockchain records, Padi Protocol is on a mission to keep Nigerians out of jail.

U.S. Treasury Eyes Digital Identity for Crypto Compliance

The post U.S. Treasury Eyes Digital Identity for Crypto Compliance appeared on BitcoinEthereumNews.com. Treasury seeks public input on using digital identity tools to enhance crypto compliance and fight illicit finance under the GENIUS Act. The U.S. Department of the Treasury is seeking public input on using digital identity tools to combat illicit finance in crypto markets. This initiative was launched this week following the passage of the Gui…

US Treasury Explores Digital ID Integration in DeFi Smart Contracts

Potentially incorporating digital identification credentials directly into the code of DeFi protocols is one of the concepts proposed. This approach proposes integrating KYC and AML measures into blockchain infrastructure via the use of smart contracts. An alternative being considered by the US Department of the Treasury is incorporating identity verification into decentralized finance (DeFi) smart contracts; nevertheless, there are other potent…

U.S. Treasury Opens Public Debate on Digital Identity in Crypto Rules

The United States is taking a bold step in deciding how to regulate the fast-moving crypto industry The post U.S. Treasury Opens Public Debate on Digital Identity in Crypto Rules appeared first on TheCoinrise.com.

US Treasury Considers Digital ID in DeFi to Curb Illicit Finance - Invest In Crypto News

The US Department of the Treasury is seeking public feedback on how digital identity tools and other emerging technologies could be used to fight illicit finance in crypto markets, with one option being embedding identity checks into decentralized finance (DeFi) smart contracts. The consultation, published this week, stems from the newly enacted Guiding and Establishing National Innovation for US Stablecoins Act (GENIUS Act), signed into law in …