The House of Representatives Financial Services Committee held its annual hearing of the Treasury's FinCEN and the Office of Terrorism and Financial Intelligence, looking at terrorism-related financing with some talks on digital assets.
US Treasury plans to release its 2024 National Strategy for Combatting Terrorist and Other Illicit Finance, which will be based on the 2024 National Risk Assessments.
The Bank of England and the U.K. Treasury remain undecided about the necessity of a CBDC in the U.K. but confirmed that neither the Bank nor the government would have access to users' personal data.
The announcement comes over a year after Bittrex was forced to pay more than $53 million in settlements to the OFAC and FinCEN for failing to implement effective sanctions and AML compliance.
The consultation and call for evidence was issued in April, following a report by the Treasury that it intends to regulate digital asset-related activities under the existing U.K. regulatory regime.
The move was announced by the Financial Crimes Enforcement Network, identifying coin mixing operations as “a class of transactions of primary money laundering concern.”
A bipartisan group of U.S. lawmakers wrote to the Treasury Department and the National Security Council, calling for the Biden Administration to crackdown on digital asset financing of terrorism.
Tether is coming under fire for reneging on its promise to eliminate third-party loans while also making a nearly half-billion-dollar investment in an artificial intelligence/BTC mining operation.
As the crackdown on tax evasion continues, the U.S. Treasury Department is lobbying for stringent regulations, which would include the disclosure of users' trading activity to the IRS.
The two co-founders of the Ethereum-based mixer Tornado Cash were charged by the U.S. Department of Justice with money laundering and sanction violations after they allegedly helped launder $1 billion.
Regulators, including California's Fair Political Practices Commission, are revising digital currency campaign donations rules to ensure transparency and compliance.
The U.K. Treasury’s response to a consultation updates proposals for a regulatory regime for systemic stablecoins, which would be supervised by the Bank of England and the Financial Conduct Authority.
