2 / 2 Relevant items tagged with #USTreasury

Posts

Are Rising Yields Putting the Squeeze on DeFi?

[Oct 25, 2023 9:45 AM] In this week’s “Crypto Long & Short,” Todd Groth investigates the interplay between TradFi and DeFi yields and why comparisons across markets are often overly simplified apples vs oranges.

FinCEN Proposes Insane Special Measures

[Oct 20, 2023 2:47 PM] Yesterday’s FinCEN rule proposal is incredibly overbroad, comprehensive, and perfectly designed to allow arbitrary information collection at any scope they choose to enforce. It truly is a mind-blowingly large grab attempt at private information of…

Treasury Sanctions Ethereum Wallet Used by Sinaloa Cartel to Launder Fentanyl Financing 

[Sep 26, 2023 12:30 PM] The U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) sanctioned an Ethereum wallet used by the Sinaloa Cartel to launder money from fentanyl sales in the U.S. Mario Alberto Jimenez Castro, an accused money launderer for the…

Casascius Bitcoin Peels: $10M Cashed in 2023, Yet a $1 Billion Stash Remains Unclaimed

[Sep 4, 2023 8:00 AM] While bitcoin (BTC) is already a limited asset, Mike Caldwell’s Casascius physical bitcoins take rarity to a whole new level. Between 2011 and 2013, he endowed over 27,000 coins and bars with nearly 100,000 BTC. As we step into September…

US Congress Members Clash on the Potential Effect of Proposed Tax Rules on the Crypto Industry

[Aug 29, 2023 4:30 PM] Members of the U.S. Congress have expressed concerns about the possible problems that implementing the newly proposed crypto tax reporting requirements could create in the entire industry. Patrick McHenry, Cynthia Lummis, and others reacted…

US Treasury And IRS Propose Regulations On Bitcoin & Crypto Transactions By Brokers

[Aug 25, 2023 8:13 AM] Today, the U.S. Department of the Treasury and the Internal Revenue Service (IRS) have jointly announced a set of proposed regulations focusing on the sale and exchange of digital assets by brokers. The is part of the broader strategy set forth by…

Tornado Cash indictment fails to show ‘clear violation’ of certain laws: Coin Center

[Aug 23, 2023 8:51 PM] Coin Center research director Peter Van Valkenburgh argued that crypto mixer Tornado Cash is an anonymizing software provider, not a money transmitter.

Privacy should be considered in ‘potential retail CBDC’ — Treasury official

[Jun 13, 2023 10:12 PM] U.S. Treasury official Graham Steele told an audience at a Texas payments conference that a future CBDC in America should consider anonymity.

U.S. Treasury Examining How Using Digital Dollars Could Be Kept Private

[Jun 13, 2023 10:44 AM] As the Treasury Department studies a possible central bank digital currency, senior official Graham Steele says the effort is looking at privacy, but is also wary of CBDC run risks.

Blockchain Association Files Amicus Brief in Coin Center Lawsuit Against U.S. Treasury Over Tornado Cash Sanctions

[Jun 2, 2023 12:11 PM] In a statement, the trade group’s CEO Kristin Smith, said that regulatory actions should only target bad actors.

Bitcoin, Crypto Prices Brace for Downturn in Coming Liquidity Shock, Observers Say

[May 31, 2023 5:45 PM] Improving liquidity conditions so far this year has lifted risk assets such as cryptocurrencies, but the trend is poised to turn once the U.S. debt ceiling is lifted and the Treasury along with the Fed resumes tightening, analysts said.

Coinbase-backed motion makes 4 key arguments to lift Tornado Cash sanctions

[May 24, 2023 11:13 PM] According to the filing, the Treasury lacks the authority to prohibit Tornado Cash and transactions associated with it.

Binance helped US authorities freeze $4.4M linked to DPRK cybercrime orgs

[May 24, 2023 8:00 PM] Following “lawfully served warrants,” Binance worked to flag the accounts and tie up the funds.

USDC Issuer Circle Moves $8.7B to Repo Agreements to Protect Reserves From U.S. Government Default

[May 17, 2023 1:52 PM] Circle’s reserve fund has ditched Treasury bills that mature beyond May 31, rotating assets to cash and overnight repurchase agreements instead, a company spokesperson said.

US Treasury seeks to tighten nonbank rules following banking crisis

[Apr 24, 2023 12:18 AM] Janet Yellen called for further regulation of nonbank institutions, claiming they pose a systemic risk to U.S. financial stability.

US Treasury Secretary Janet Yellen Acknowledges Sanctions Weaponization Could Hurt Dollar Hegemony

[Apr 17, 2023 4:00 AM] U.S. Treasury Secretary Janet Yellen talked about the dangers that sanctions based on the U.S. dollar might pose for the hegemony of the currency in international markets. According to Yellen, the government tries to use sanctions…

US Treasury Report Warns of Defi’s Threat to National Security, Authors Conclude Fiat Is Used in Illicit Finance More Than Crypto

[Apr 6, 2023 1:30 PM] The U.S. Treasury has released a 42-page report assessing the risks of decentralized finance (defi). The report states that specific nation-state adversaries, cybercriminals, ransomware attackers, thieves, and scammers are using defi to…

Coinbase supports new court action to remove Tornado Cash ban

[Apr 5, 2023 9:28 PM] The motion is part of a broader effort to restore internet privacy rights for United States citizens.

Fed balance sheet adds $393B in two weeks — Will this send Bitcoin price to $40K?

[Mar 24, 2023 8:23 AM] The U.S. central bank's liabilities may increase if more regional banks fail, creating an upside scenario for the price of Bitcoin.

US Central Bank’s Fednow Payment Service to Launch in July, Economist Calls Timing ‘Suspicious’

[Mar 22, 2023 11:30 AM] According to the U.S. Federal Reserve, the central bank’s Fednow payment service will start operating in July, and participants will be certified in April to leverage the Fednow Pilot Program. Ken Montgomery, the Fednow program executive, is…

FDIC Creates Bridge Banks for Failed Silicon Valley Bank and Signature Bank Clients to Access Funds

[Mar 13, 2023 8:30 AM] The U.S. Federal Deposit Insurance Corporation (FDIC) has announced that clients of Silicon Valley Bank (SVB) and Signature Bank (SBNY) can access their funds during normal banking hours on Monday, March 13, 2023. The FDIC stated that both…

U.S. Treasury, FDIC And Federal Reserve Will Guarantee All Deposits At SVB, Signature Bank In Unprecedented Move

[Mar 12, 2023 7:59 PM] A joint statement ensured that all customer deposits at the respective banks will be honored by the federal government.The U.S. Treasury, Federal Reserve, and the Federal Deposit Insurance Corporation (FDIC) announced on Sunday that they would take…

U.S. Treasury Introduces CBDC Working Group, Discusses Potential Routes For Digital Dollar

[Mar 2, 2023 3:04 PM] The Treasury’s statements explore the potential forms and implementations of an American CBDC.The U.S. Department of the Treasury has released comments from Undersecretary for Domestic Finance Nellie Liang on the “Next Steps to the Future of Money…

US Treasury and White House to Hold Regular Meetings on CBDCs and Payment Innovations

[Mar 2, 2023 9:30 AM] On March 1, 2023, Nellie Liang, undersecretary for domestic finance at the U.S. Treasury, delivered a speech to the Atlantic Council in Washington concerning the subject of central bank digital currencies (CBDCs). Liang detailed during her speech…