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Top U.S. Treasury Official Says Crypto Had No ‘Direct Role’ In Bank Failures
29.3.2023
Nellie Liang, the U.S. Treasury Department's undersecretary for domestic finance, doesn’t believe that the digital assets sector should be blamed for the runs on Silicon Valley Bank (SVB) and Signature Bank that led to their quick demise earlier this month
US exploring ways to guarantee the country's 18T of bank deposits: Report
21.3.2023
The current deposit insurance cap under the FDIC is $250,000, but recent banking collapses have seen calls to increase that amount
U.S. Banking Collapse Doesn't Necessarily Make Crypto Trustworthy
16.3.2023
TK
U.S. Treasury Poised to Release View on How DeFi Used in Illicit Finance
14.3.2023
The U.S. Treasury Department is close to releasing a risk assessment analyzing criminal use of decentralized finance (DeFi), according to Assistant Secretary for Terrorist Financing and Financial Crimes Elizabeth Rosenberg
Is This a Crypto Banking Bailout?
13.3.2023
As the wreckage that started inside crypto banking threatens financial institutions beyond the sector’s border, the federal government is eager to make it clear that it’s not going to let it get out of hand. But is it a bailout?
NY Regulators Seize Control of Signature Bank, Depositors Assured by Federal Bailout
13.3.2023
On Sunday, the New York Department of Financial Services, or DFS, announced that it had taken possession of Signature Bank. The DFS appointed the Federal Deposit Insurance Corporation, or FDIC, as the receiver of the bank. In a joint statement, the U.S. Federal Reserve, Treasury Department,...
U.S. Treasury Department Proposes 30% Excise Tax on Crypto Mining Firms
10.3.2023
A provision in the department’s “Greenbook,” its list of tax proposals and explanations for U.S. President Joe Biden’s budget proposal, would create a phased-in excise tax based on the costs of the electricity used in crypto mining, imposed on the companies “using computing resources” to mine...
Biden Budget Plan Would Close Crypto Tax Loss Harvesting Loophole
9.3.2023
U.S. President Joe Biden's proposed budget will include a provision to close tax loss harvesting on crypto transactions
Internal documents reveal Australia's potential timeline for crypto legislation: Report
6.3.2023
Internal documents from the Australian Treasury Department have revealed crypto legislation in the country could be a year away at the very least
Top US Treasury Official Says Leaders ‘Actively Evaluating’ Digital Dollar Question
1.3.2023
Nellie Liang, the U.S. Treasury Department's undersecretary for domestic finance, suggested that the federal government’s work on a potential digital dollar is accelerating, saying leaders from various agencies and White House offices are starting meetings in the “coming months.”
US Government Delays Tax Reporting Rules for Cryptocurrency Brokers
25.12.2022
The enforcement of a requirement for brokers to report gains made by crypto investors has been postponed by the U.S. Treasury Department and the IRS. The new tax rules, incorporated into the $1 trillion infrastructure bill passed by the U.S. Congress in 2021, were to be imposed in 2023. Crypto...
SEC Chairman Says Important to Regulate Crypto Issuers and Intermediaries
19.12.2022
The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, has stressed the importance of bringing “intermediaries and issuers of crypto securities” into compliance. In addition, the U.S. Treasury Department’s Financial Stability Oversight Council (FSOC)...
Treasury officials would have done more for national security by leaving Tornado Cash alone
5.12.2022
Tornado Cash contributes to our national security interests more than it undermines them
Crypto Exchange Kraken Settles With Treasury Department Over Sanctions Violations
30.11.2022
Crypto exchange Kraken has settled with the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) over its apparent violations of sanctions against Iran. The cryptocurrency exchange has agreed to remit $362,159 to settle its potential civil liability and invest an additional...
US Lawmakers Probe SEC, Treasury, Federal Reserve Over Revolving Door With Crypto Industry
30.10.2022
U.S. lawmakers have raised concerns about the revolving door between financial regulators and the crypto industry. “Over 200 government officials have moved between public service and crypto firms,” the lawmakers said, adding that they include 31 Treasury Department officials and...
Coin Center Sues US Treasury Over Tornado Cash Ban — Lawsuit Says Government’s Action ‘Was Unlawful’
12.10.2022
The non-profit that focuses on policy issues facing cryptocurrencies, Coin Center, has filed a lawsuit against the Treasury department, the secretary of the Treasury Janet Yellen, and the Office of Foreign Assets Control’s (OFAC) director Andrea Gacki. Coin Center’s court filing says...
US Treasury Charges Bittrex With Sanctions Violations, Crypto Exchange Agrees to Settle With Regulator
12.10.2022
On October 11, the U.S. Treasury department’s Financial Crimes Enforcement Network (FinCEN) and the Office of Foreign Assets Control (OFAC) announced that it has settled charges with the cryptocurrency exchange Bittrex. The crypto exchange was accused of sanctions violations and failure...
Github Partially Reinstates Tornado Cash Codebase, Open Source Code Set to Read-Only Mode
24.9.2022
The internet hosting and software development subsidiary of Microsoft, Github, has partially unbanned the Tornado Cash repositories following the recent sanctions enforced by the U.S. Treasury Department’s Office of Foreign Asset Control (OFAC). Github’s decision follows the U.S....
US Treasury Clarifies How to Comply With Regulations on Sanctioned Crypto Mixing Service Tornado Cash
17.9.2022
The U.S. Department of the Treasury has answered some questions on regulatory compliance relating to Tornado Cash, a recently sanctioned crypto mixer. The answers include how to withdraw crypto or complete transactions initiated using Tornado Cash prior to its sanction and how to deal with...
OFAC Sanctions 7 New Bitcoin Addresses Allegedly Associated With Iran-Related Ransomware Activities
14.9.2022
The Treasury’s Office of Foreign Asset Control (OFAC) has published a specially designated nationals list update (OFAC’s SDN List) that lists a number of individuals accused of being involved with Iran-related ransomware. The list further shows seven bitcoin addresses that...