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The government of the United Kingdom said it intends to modify a proposal that would have required crypto firms to collect personal data from individuals holding unhosted wallets that were the recipients of digital asset transfers.In its Amendments to the Money Laundering, Terrorist Financing and Transfer of Funds updated on
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While dramatic market swings often push Treasury secretaries to reach out to U.S. financial leaders, Yellen’s meeting with a long list of bank executives had long been scheduled, according to people familiar with the event. Both bankers and the administration have been keen on the subject of cryptocurrency oversight, so
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U.S. Treasury Secretary Janet Yellen warns crypto is a “very risky investment,” adding that she would not recommend it to most people who are saving for retirement. However, Yellen noted that Congress could restrict the type of investments allowed in retirement accounts, including 401(k) plans. Janet Yellen on Investing
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Coin Center, a Washingon, DC-based non-profit blockchain advocacy group, filed a lawsuit against the United States Department of the Treasury for allegedly provisioning an unconstitutional amendment in the controversial infrastructure bill.Coin Center lawsuit information about plaintiffs and defendants. Source: Case: 5:22-cv-00149-KKCIn an official announcement, Coin Center revealed the filing of a suit
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The requirement, which will take effect in 2024, requires U.S. taxpayers who receive over $10,000 in cryptocurrency to report the social security numbers and other personal information of the sender. The provision was one of several included in a 2021 infrastructure bill, which also included a controversial crypto tax reporting
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“The only way that we can stop illicit actors from operating … [is] in partnership with investors and with innovators,” Adeyemo said, vowing to ensure that “responsible actors in the space are the partners of government, rather than working in opposition to us, or feeling as if our rules don't
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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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United Kingdom’s Department of Treasury, or Her Majesty's Treasury, has reportedly decided to go ahead with regulating stablecoins as legal tender. While welcomed by the crypto community, the decision comes as a shocker due to its proximity to the recent fall of one of the most popular algorithmic stablecoin, TerraUSD (UST).A
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Quick take: US Treasury Secretary Yellen has stated that a Central Bank Digital Currency (CBDC) could diminish the proliferation of stablecoins She also mentioned that both could coexist as stablecoins could offer faster, efficient, and cheaper alternatives to a CBDC by the US Fed US Treasury Secretary Yellen has floated the idea that
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The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has issued its first-ever sanctions on a crypto mixer. The mixing service was used by Lazarus Group to process illicit proceeds from the $620 million crypto heist of the online game Axie Infinity, said the Treasury Department. Treasury Department
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