The U.S. Treasury Department is seeking political support to give it more enforcement authority to sanction actions involving cryptocurrency exchanges.

In written testimony ahead of a Senate hearing on Tuesday, U.S. Treasury Undersecretary Adewale O. Adeyemo said that more and more actors are looking for ways to use virtual currencies to hide their identities and transfer resources. The U.S. Treasury Department is seeking political support to give it more enforcement authority to crack down on foreign crypto service providers, which is to protect national security goals. Adewale O. Adeyemo also alleged that Hamas and Palestinian Islamic Jihad obtained cryptocurrency from Iran.
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