Search
US Treasury Sanctions 2nd Cryptocurrency Exchange, DOJ Seizes $6.1 Million
9.11.2021
The U.S. Treasury Department has sanctioned a second cryptocurrency exchange “for facilitating financial transactions for ransomware actors.” Two ransomware operators have also been sanctioned and $6.1 million in funds were seized. US Treasury Sanctions Another Cryptocurrency Exchange...
Treasury Says Crypto Reduces Efficacy of US Sanctions, Seeks More Funding
20.10.2021
The U.S. Department of the Treasury says that the growing use of crypto assets challenges the efficacy of American sanctions. “We are mindful of the risk that, if left unchecked, these digital assets and payments systems could harm the efficacy of our sanctions,” the Treasury...
US Treasury Targets Crypto Exchanges in Whole-of-Government Effort to Counter Ransomware
23.9.2021
The U.S. Department of the Treasury has taken actions targeting cryptocurrency exchanges “responsible for laundering ransoms” as part of the whole-of-government effort to counter ransomware. One cryptocurrency exchange has already been sanctioned along with related crypto addresses....
Treasury Secretary Yellen Asks US Regulators Overseeing Crypto Assets to ‘Act Quickly’ to Regulate Stablecoins
21.7.2021
U.S. Treasury Secretary Janet Yellen has asked the regulators overseeing crypto assets to “act quickly to ensure there is an appropriate U.S. regulatory framework in place” for stablecoins. U.S. Department of the Treasury’s Office of Public Affairs announced Monday the outcome...
FinCEN Names Misuse of Cryptocurrencies a National Priority
4.7.2021
The Financial Crimes Enforcement Network (FinCEN) has named “cybercrime, including relevant cybersecurity and virtual currency considerations” a national priority. In particular, the Treasury is concerned about the “misuse of virtual assets that exploits and undermines their...
US Treasury Unveils Biden’s Proposed Tax Measures — Cryptocurrency Transfers Over $10,000 to Be Reported to IRS
20.5.2021
The U.S. Department of the Treasury has announced measures to crack down on tax evasion involving cryptocurrencies as part of President Joe Biden’s proposed tax compliance measures. Among the measures is a requirement for businesses that receive crypto assets with a fair market value of more...
US Treasury Secretary Janet Yellen Says ‘the Misuse of Cryptocurrencies Is a Growing Problem’
12.2.2021
Janet Yellen, the new U.S. Treasury Secretary, has warned about “a growing problem” from “the misuse of cryptocurrencies.” She emphasized that “cryptocurrencies have been used to launder the profits of online drug traffickers; they’ve been a tool to finance...
FinCEN Extends Crypto Rulemaking Review Period as Senate Confirms Janet Yellen
27.1.2021
The Financial Crimes Enforcement Network (FinCEN) has issued a notice extending the comment period for its crypto wallet proposal. The extension came shortly after the U.S. Senate confirmed Janet Yellen as the new U.S. Treasury Secretary. FinCEN Extends Comment Period for Crypto Wallet Rulemaking...
FinCEN to Impose New Regulation for Crypto Holdings at Foreign Exchanges
1.1.2021
The Financial Crimes Enforcement Network (FinCEN) has announced that it will soon propose new regulation affecting cryptocurrency holdings at foreign exchanges. This proposal is separate from the one FinCEN recently proposed on cryptocurrency wallets. FinCEN’s New Crypto Rules FinCEN,...
183 Violations: US Government Fines Bitgo for Allowing Users to Bypass Sanctions With Cryptocurrency
1.1.2021
The U.S. Office of Foreign Assets Control has fined Bitgo for failing to prevent users in sanctioned countries from using its crypto wallet service. The agency says Bitgo processed 183 cryptocurrency transactions that were “apparent violations of multiple sanctions programs.”...
OFAC Warns Americans Against Facilitating Ransomware Payments
5.10.2020
The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) recently issued an advisory highlighting the sanctions risk American citizens face if they help facilitate ransomware payments. In the advisory, the OFAC says it will “continue to impose sanctions on those...
US Sanctions Russians Allegedly Using Cryptocurrency to Influence Presidential Election
12.9.2020
The U.S. has sanctioned several Russian nationals, a Ukrainian lawmaker, and their cryptocurrency addresses for interfering with the country’s electoral process. The Russians are allegedly employees of a troll factory that previously targeted presidential candidates. Operations to Interfere...
US Treasury to ‘Borrow’ $3 Trillion for a Single Quarter – Anticipates Taking Billions More for Q3
5.5.2020
On Monday, the United States Department of the Treasury announced it will be “borrowing” a record $3 trillion to help support the American economy. The move comes after the Federal Reserve dished out over $6 trillion to private dealers before the first U.S. Covid-19 death, and the $1.5...
How They Will Attack Bitcoin: The Hypocritical Shock Campaign of US Monetary Policy
17.7.2019
On July 16, U.S. Department of the Treasury Secretary Steven Mnuchin gave a short press briefing discussing cryptocurrencies and the pressing need for regulation. A 28-minute slodge of alphabet agency soup, studded with calculated mentions of “terrorism” nearly every minute, casual...