Commodity Futures Trading Commission( CFTC) member of Christy Goldsmith Romerourged crypto companies to verify users’ digital identities.
CFTC official, held in London on 25 April City Week 2023 He made important statements in his keynote speech on Illegal Finance and Other Fundamental Risks of Digital Finance. Romero has called on crypto companies to reduce anonymity, saying that Congress is considering new laws that address anonymity and digital identity.
Emphasized the Importance of Financial Stability
RomeroHe stressed that governments and the industry must combat anonymity, which is the primary feature that makes cryptocurrencies attractive for illicit finance.
Underlining the importance of market integrity, national security and financial stability in the continuation of his speech, Romero said that these will not be compromised and the risks associated with digital assets must be managed. Stating that the way to reduce illicit financial risks is to address the identity verification issue, Romero continued his speech with the following words: “Although the public blockchain offers transparency and traceability, the use of mixers and anonymity-enhancing technology increases the potential for significant risk.”
RomeroAccording to , crypto companies can maintain financial privacy for their customers without relying on mixers and anonymity-enhancing technologies.
Stating that new laws addressing anonymity and digital identity are being evaluated in Congress, Romero said, USAHe stated that his government will prioritize preventing the use of crypto for illegal finance.
