US Treasury says it must ‘modernize and adapt’ to digital currencies

The United States Department of the Treasury has issued a review on sanctions and suggested the government do more to develop its infrastructure and policies in regards to digital assets.

In an Oct. 18 report, the Treasury Department said the growing use of digital assets was hampering the implementation of sanctions while balancing funds from legitimate humanitarian organizations. The department suggested that better communication between itself and the crypto industry, financial institutions, and others in addition to “deepening its institutional knowledge and capabilities” could help improve current policy.