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U.S. Treasury Issues Crypto Tax Regime For 2025, Delays Rules for Non-Custodians

[Jun 28 2:15 PM] The IRS has now set up its reporting system for crypto brokers, but it set aside related rules for DeFi and unhosted wallets as it continues to study 44,000 comments to the agency.

Mexican Cartels Using BTC, ETH, USDT, Other Tokens to Buy Fentanyl Ingredients: U.S.

[Jun 20 11:08 AM] Criminal organizations in Mexico have been using several popular digital assets to buy the materials needed to make the drug fentanyl, according to the U.S. Treasury Department's Financial Crimes Enforcement Network (FinCEN), which cited the use of…

In Conversation With Brian Nelson

[Jun 11 10:30 PM] Last October, the Financial Crimes Enforcement Network (FinCEN) – the U.S. Treasury Department's money laundering watchdog – announced a proposal to label crypto mixers as a "primary money laundering" concern, a move that alarmed a broad swath of…

U.S. Treasury Isn’t Trying to Ban Crypto Mixers, Top Official Says

[May 29 4:41 PM] FinCEN’s 2023 proposal to require crypto companies to report transactions that involved mixing is about transparency, not banning mixers, said Brian Nelson, U.S. Treasury undersecretary.

U.S. Treasury Says It Wants to Better Money Laundering Regulations Around Crypto, Other Illicit Finance

[May 16 10:00 AM] The U.S. Treasury Department wants to continue beefing up anti-money laundering and counter-terrorist financing efforts around digital assets, as part of its broader strategy to tamp down on illicit financing.

FinCEN Is Analyzing $165M in Transactions That May Tie Crypto and Hamas, Senior Official Says

[Mar 13 6:09 PM]

Samourai Wallet, Strike and Others Ask FinCEN to Withdraw Proposed Rules Tied to Crypto Mixing

[Jan 25 4:30 AM] Samourai Wallet, River, Strike, Swan, and other companies in the cryptocurrency space have sent a letter to the Financial Crimes Enforcement Network (FinCEN), commenting on the proposed rules over mixing transactions introduced in October. These…

U.S. Lawmakers Urge Treasury to Revise Proposed Crypto Tax Rules

[Nov 16, 2023 12:56 AM] A letter by a bipartisan group of U.S. lawmakers has urged the U.S. Treasury to revise its proposed digital-assets taxation regime.

US Treasury Cracks Down: Sanctions Crypto Money Launderer Tied To Russian Elite

[Nov 3, 2023 8:00 PM] In a significant move to combat sanctions evasion and illicit financial activities, the US Department of the Treasury’s Office of Foreign Assets Control (OFAC) has imposed sanctions on Ekaterina Zhdanova, a Russian national allegedly involved…

U.S. Crypto Tax Proposal Lets Miners Off the Hook, Snares ‘Some’ Decentralized Exchanges

[Aug 25, 2023 6:45 AM] The U.S. Treasury Department has finally unveiled its definition of a "broker" for the crypto industry, defining how crypto companies and investors will need to meet tax reporting obligations and answering a years-old question over whether…

Coinbase-Backed Group Loses Lawsuit Arguing Tornado Cash Sanctions Overstepped U.S. Treasury's Authority

[Aug 17, 2023 2:21 PM] A group of crypto investors and developers lost a lawsuit funded by Coinbase which sought to argue that the U.S. Treasury Department overstepped its authority in sanctioning Tornado Cash, a mixing service.

U.S. Sanctions Watchdog Alleges Russia-Linked Crypto Wallet Processed $5M

[May 19, 2023 1:39 PM] An Irish national helped wealthy Russians evade sanctions and hide money in UAE, OFAC alleged Friday.

Crypto Exchange Poloniex Agrees to $7.6M Fee to Settle Sanctions Violation Charges

[May 1, 2023 12:22 PM] Crypto exchange Poloniex will remit $7.59 million to settle sanctions violations allegations with the U.S. Treasury Department's Office of Foreign Asset Control (OFAC), the sanctions watchdog announced Monday.

U.S. Sanctions 3 North Koreans for Supporting Hacking Group Known for Crypto Thefts

[Apr 24, 2023 8:33 AM] The U.S. Treasury Department's sanctions watchdog banned three North Korean individuals for supporting the Lazarus Group, a North Korean hacking team known for crypto thefts.

Texas Lawmakers Introduce Bill Proposing to Establish a Gold-Backed Digital Currency

[Apr 8, 2023 1:30 PM] Two Republican lawmakers from Texas, senator Bryan Hughes and representative Mark Dorazio, have introduced legislation to create a gold-backed digital currency that could be enacted by the state legislature. The policymakers believe that this…

U.S. Treasury Warns DeFi Is Used by North Korea, Scammers to Launder Dirty Money

[Apr 6, 2023 8:00 AM] The Treasury's first analysis of illicit finance risks associated with DeFi recommends the U.S. look at enhancements to its existing anti-money laundering regime.