US Treasury Pushes DeFi IDs to Curb Crypto Crime, But Hackers Have Loopholes: ZachXBT

TLDR: US Treasury requests input on digital IDs in DeFi to detect illicit finance, raising privacy and enforcement concerns. Critics warn criminals already bypass checks by buying verified accounts online for less than $100. Past breaches like Kroll’s 2023 data leak left crypto claimants exposed and fueled $300M in fraud losses. Experts argue liability for [...]

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