Crypto exchange Coinbase has urged the US government to use blockchain analytics, artificial intelligence and other modern technology to curb financial crime in the space, in response to the Treasury Department’s request for comment on how to deter illicit activity in crypto.
In the letter penned by chief legal officer Paul Grewal, data-ct-non-breakable=”null” href=”https://assets.ctfassets.net/sygt3q11s4a9/2JiDDSZgdu1zwNlwkLgE24/12b9465b1b96198a702288555713dbd3/Coinbase_Response_to_Treasury_RFC_on_Innovative_Methods_To_Detect_Illicit_Activity_Involving_Digital_Assets__1_.pdf” rel=”noopener nofollow” target=”_blank”>dated Oct. 17 and data-ct-non-breakable=”null” href=”https://x.com/iampaulgrewal/status/1980324763470905721?s=46&t=MuRujqZUAz3TQE1vmr3c6A” rel=”noopener nofollow” target=”_blank”>shared to X on Monday, he argued money laundering schemes have become increasingly sophisticated through the use of advanced technologies, and law enforcement needs to follow suit to counter them.
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