The FSOC published a report as part of its follow-up on Biden’s executive order on digital assets, calling for Congress to appoint one regulator for the sector.
Regulators in the European Union and the United States met at the Joint Financial Regulatory Forum to exchange their views on topics of mutual interest as part of their regular financial regulatory dialogue.
According to the three U.S. departments, the North Koreans allegedly use false identities and VPNs to conceal their identities and usually ask for payments in digital assets.
The IRS released a joint Priority Guidance Plan for ‘21-‘22 with Treasury and it lists its intention to issue tax guidance for digital currencies as a priority.
New proposals being brought forward by the U.S. Treasury Department could see a new requirement to report digital currency transactions of over $10,000 to the IRS.
Yellen was confirmed by the Senate by a vote of 84-15, underscoring the bipartisan support she receives in the sharply divided legislature.
The proposed rules include redefining ‘money’ to include digital currencies and lowering the transaction data-gathering threshold for cross-border financial transactions.
