The US Commodity Futures Trading Commission has called for an end to the anonymity of crypto assets, citing concerns over cybercrime and national security.
Speaking at a conference in London, CFTC Commissioner Christy Goldsmith Romero highlighted the risks posed by cybercriminals using anonymous crypto assets to finance illegal activities.
Romero announced that the CFTC is proposing a new regulation to eliminate anonymity and introduce digital identification of crypto asset owners.
Crypto firms are under growing pressure from US government agencies, including the CFTC, to comply with regulations or face harsh enforcement actions and lawsuits.
Some industry experts predict that these regulatory challenges could prompt leading US cryptocurrency companies to relocate their headquarters to other regions.