The CFTC Commissioner revealed that the TAC experts are tasked with identifying ways to instill KYC and AML processes into decentralized finance and crypto investment avenues.
The TAC is also tasked with promoting responsible“Federal regulators are just getting started when it comes to AI. A good place to start is governance in making important decisions that impact investors and markets.”
“Tracing funds, tracing crypto, using the blockchain, using link analysis, using social media, and data analytic tools should all be in a regulators’ tool kit.” To minimize the damages caused by financial fraud, Romero proposed the formation of the National Financial Fraud Registry — a centralized record of all crimes and fines related to financial fraud. The registry would help investors background check for any ongoing investigations or fines for fraud imposed on the companies. Romero first proposed the creation of this registry in December 2019:
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