The U.S. Treasury has submitted a report to Congress under the GENIUS Act, suggesting that decentralized finance (DeFi) should be subject to anti-money laundering and counter-terrorism financing obligations. According to BlockBeats, the report also proposes the establishment of 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 highlights the growing scale of crypto-related crimes, noting that losses from crypto scams recorded by the FBI reached $9 billion in 2024.