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Wally Adeyemo, Deputy Secretary of the United States Treasury, said his department is looking into new sanctions tools to pursue bad actors in the crypto space, citing a recent settlement with Binance.In prepared remarks for the Blockchain Association’s Policy Summit on Nov. 29, Adeyemo said the U.S. Treasury had called
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied The world’s largest crypto exchange is reportedly reevaluating its business in Russia. One of the options on the table is a full withdrawal from the Russian market. Potential for a full exit According to the Wall Street Journal, a
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CFTC Commissioner Kristin Johnson is pushing for her agency to work on policies to further tighten custody of customer assets as the CFTC sanctions another crypto Ponzi scheme. Source
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Cryptocurrency exchange Bybit has no intention to introduce restrictions for Russian traders, despite a recent reminder by the Monetary Authority of Singapore (MAS) about the obligations of crypto providers in that respect. According to a crypto media report, the platform shared its position in correspondence with partners. Bybit Reportedly Vows to
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United States Congressman Tom Emmer sent a four-page letter to Treasury Secretary Janet Yellen on Tuesday regarding the Treasury Department’s sanctioning of cryptocurrency mixer Tornado Cash on Aug. 8. In his letter, Emmer posed a series of questions that seek to clarify the position of the Treasury Department’s Office of
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According to a recently published report, the decentralized exchange (dex) Uniswap has blocked roughly 253 cryptocurrency addresses allegedly tied to crimes or government sanctions. The information was discovered by the software developer Banteg who analyzed and saved the shared logs from Uniswap’s server. 30 out of the 253 Blocked Addresses
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Last week, Rune Christtensen, founder of MakerDAO, the issuer of the dai stablecoin, said the U.S. sanction will likely usher in a “new age” of DeFi. Whereas the pre-sanction period emphasized user acquisition and protocol growth, the new period would recenter decentralization as a primary goal. What this means is
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Instead of targeting said hackers or going after identifiable bad actors, the government has imposed a sweeping ban on the protocol. Elliptic, an analytics company, said it has identified some $1.5 billion in illicit funds earned through ransomware, fraud or hacks. Source
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Again, I'm not advocating for anything malicious or bad being done using those tools, but it's a sign that they can work and that governments are struggling to actually deal with them technologically. Because, ultimately, sanctions are not a technological tool. They're a legal tool that they can try to
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Alessio Evangelista, the associate director for Enforcement at the Financial Crimes Enforcement Network (FinCEN), said that “too often” crypto service providers have opted to keep their heads in the sand about blatantly suspect wallets “right up until the day of an OFAC designation or criminal indictment.” Source
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