BlockBeats News, March 8th, according to Galaxy Research Director Alex Thorn, the US Treasury Department has submitted a report to Congress under the GENIUS Act, suggesting that DeFi should explicitly bear anti-money laundering and counter-terrorist financing (AML/CFT) obligations, and consider establishing a “hold law” safe harbor mechanism for digital assets, allowing institutions to temporarily freeze assets during investigations of suspicious transactions without a court order.
The report also revealed that the scale of crypto crime continues to grow, with, for example, $9 billion in losses from crypto scams recorded by the FBI in 2024.
