The Treasury Department feels that crypto scams and hacks remain serious problems, that’s why it’s pressuring the rest of the US government to respond. The Treasury has issued a report calling the federal regulators to further crackdown on the scams and other illegal crypto-related activity. Officials want from the agencies to “expand and increase” investigations and enforcement, also issue clearer guidance and help crypto users understand both risks and the reporting tools at their disposal., The Washington Post reported.
In addition, The department also asked for greater transparency on illegal activity to help spot trends in scams and other crimes. According to Federal Reserve Board data, 29 percent of crypto investors had an annual income below $50,000. It’s not clear that the findings will lead to decisive action.
