Cryptocurrency providers concentrated in a handful of offshore jurisdictions remain vulnerable to abuse by financial criminals as large, regulated firms in the U.S. step up compliance with anti-financial crime standards, witnesses told federal lawmakers Thursday. Law enforcement agencies for their part now use sophisticated tools to trace suspiciously obtained bitcoins and other cryptocurrencies though the blockchain, but still need more funds, specialized equipment and training, Jonathan Levin, co-founder of Chainalysis, a blockchain analysis firm in New York, said during a hearing of the Senate Banking Committee. "The largest gap is truly on the offshore exchanges ... there is a concentration...
U.S. senators introduced legislation Tuesday that would greatly expand the government's ability to confiscate luxury properties, investments and other assets that blacklisted Russians own in the United States.
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