Cryptocurrency Analysis and News Portal
Another provision opposed by the crypto industry essentially requires recipients of transactions over $1,000 to verify the sender’s personal information and record his or her Social Security number, the nature of the transaction and other information, and report the transaction to the government within 15 days. Original Source
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Following the passing of the Biden administration’s infrastructure bill, the U.S. president appears to be nearing his decision on whether or not he will reappoint Jerome Powell, the current Federal Reserve Board chairperson. According to a few reports Powell may be chosen, but other reports say the Fed’s Board of
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It is the second time that the U.S. Treasury Department has sanctioned a crypto exchange. Chatex “has facilitated transactions for multiple ransomware variants” and has provided “material support” to crypto over-the-counter exchange Suex, which is also associated with ransomware, the press release said. Original Source
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We’re seeing more and more chatter about crypto regulations from the current U.S. presidential administration but, despite certain statements from the SEC chair, the overall approach seems to be “wait and learn” rather than immediate action.Side note: I’ll be in Washington, D.C., next week for a few days. Want to
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The Biden administration is reportedly considering a new legal framework for stablecoin issuers that would put them in the same category as banks, raising questions about the future of crypto regulation in the country.Citing people familiar with the matter, The Wall Street Journal reported Friday that the administration is looking
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The Biden administration reportedly intends to nominate Kazakhstani-American attorney, academic and former policy advisor Saule Omarova to head the Office of the Comptroller of the Currency (OCC) — the institution that oversees the U.S. banking sector.Omarova has levied criticisms at both crypto assets and the legacy banking sector in the
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If nominated and confirmed, Omarova will be the first full-term Comptroller since Joseph Otting, who headed up the federal bank regulator between 2017 and 2020. Former Acting Comptroller Brian Brooks took over the regulator last year, overseeing a handful of guidance letters and conditional approvals allowing crypto companies to have
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The U.S. government plans to issue guidance and impose sanctions in an ongoing effort to tamp down on ransomware attacks.The Wall Street Journal reported Friday the Joe Biden administration is planning an array of actions to mitigate ransomware attacks, with a focus on payments. The Treasury Department will announce these
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Unnamed sources familiar with the matter indicate the Biden administration may allow Federal Reserve chairman Jerome Powell to continue as the central bank’s lead. The news follows three U.S. representatives asking Biden to replace Powell with a central bank leader that addresses equality and climate change. Jerome Powell to Stay for
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U.S. President Joe Biden has tapped acting chairperson of the Commodity Futures Trading Commission Rostin Behnam to assume his position on a permanent basis, as well as two others to fill vacant commissioner seats.In a Monday announcement from the White House, President Biden said he planned to nominate Behnam —
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