The U.S. Department of the Treasury has submitted a report to Congress on leveraging technology to combat illegal financial activities in digital assets, authorized under the 2025 GENIUS Act. The report states that fraud losses reported in 2024 will exceed $9 billion, with investment scam cases increasing by 47% to $5.8 billion. North Korea stole $2.8 billion between 2024 and 2025. The report advocates for broader adoption of artificial intelligence, digital identity, blockchain analysis, and application programming interfaces (APIs) by financial institutions. It also calls on Congress to clarify anti-money laundering rules for decentralized finance (DeFi) participants and notes that new guidelines and technical standards are being developed.

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