Chainlink Labs responds to U.S. Treasury consultation, proposes four digital asset compliance innovation recommendations
Foresight News reported that Chainlink Labs stated in an article that, as part of the implementation of the GENIUS Act, the U.S. Department of the Treasury has issued a request for comments on "innovative approaches to detecting illicit finance activities involving digital assets." Chainlink Labs responded by proposing four main concepts: portable digital identity, distinguishing between administrative control and customer relationships, rule-based on-chain compliance, and cryptographically secured reserve transparency, in order to improve the efficiency of detecting illicit financial activities while reducing privacy and operational risks. Chainlink Labs expressed its willingness to provide further information to support the Treasury's research and any subsequent guidance or regulatory development.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Blackstone (BX.US) injects up to $1.5 billion, providing fresh ammunition for Pfizer (PFE.US) in the weight-loss drug race
Pfizer announced on Wednesday that it has reached an agreement with Blackstone to obtain up to $1.5 billions in funding to support the development of its experimental monthly obesity treatment drug.
Bernstein Downgrades Nvidia Rating and Target Price
Google (GOOGL.US) DeepMind launches AlphaGenome 2: Capable of decoding DNA cells with nearly double the mutation identification capacity
Google DeepMind has released its AI model AlphaGenome 2, which is trained on maps of over 100 millions of cells and has nearly double the ability of its predecessor in identifying gene expression variations.
Crypto prices
More
