U.S. Government Accountability Office said that since digital currency ATMs are not as strictly regulated, they can allow human traffickers to move funds discreetly and recommend tougher measures.
The new bill is meant to curb ransomware attacks, requiring all businesses to report these attacks and the U.S. Treasury to keep such details confidential.
What the Taproot update does is make the responsibility for laundered coins to fall more broadly on the shoulders of every participant in the network.
In a recent interview, Michele Korver talked about her new role, combating digital currency-related crime and why Bitcoin is just another payment method that needs time to develop and evolve.
Michele Korver joins the federal agency after a run at the U.S. Department of Justice where she was instrumental in shaping some of today’s most critical digital currency policies.
The project, formerly known as Libra, had been envisaging a worldwide roll-out for its stablecoin, which it had planned would be pegged to a weighted basket of international currencies.
The budget increase would see funds of $191 million allocated to the agency, up $64 million on its original budget for the year.
The Notice of Proposed Rulemaking imposes new requirements on banks and money service businesses when handling non-hosted wallets.
The period for comments has been extended for a further 15 days to allow submissions on a proposed $10,000 limit per transactions.
The United States has passed huge reforms to its anti-money laundering regime, bringing digital asset exchanges and others dealing in digital assets further within the reach of regulators.
In its latest regulatory measure, FinCEN is proposing that U.S. citizens report if they have more than $10,000 in digital currencies with foreign exchanges, wallets or financial service providers.