First in The Vault: The crypto exchange Coinbase is charting an ambitious course for changes to the United States’ anti-money laundering controls.
In a 40-page memo set to be published later today, Coinbase will push the Treasury Department to publish new regulations and guidance that would ease significant parts of federal illicit finance rules. The changes are geared at allowing financial firms to use a broader suite of tech to combat money laundering.
“Where the bad guys are getting more sophisticated, it’s critically important that the good guys have every tool at their disposal in order to keep pace,” Coinbase Chief Legal Officer Paul Grewal said in an interview.
