US Senator Requests Government Agencies Step Up Efforts to Prosecute Criminal...
U.S. Senator Margaret Hassan has requested that government agencies take “additional targeted steps to prevent and prosecute the use of cryptocurrency for criminal purposes.” She expressed her concern over “the rise in the use of cryptocurrency for criminal purposes.” US Senator Requests Agencies Take Steps to Prevent and Prosecute Use of Crypto for Criminal Purposes U.S. Senator Maggie Hassan wrote a letter to Attorney General Merrick Garland expressing her concern about the criminal use of cryptocurrencies Thursday. Garland is the 86th U.S. attorney....
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The U.S. has launched the National Cryptocurrency Enforcement Team, an initiative of the Department of Justice (DOJ), to tackle and prosecute “criminal misuses of cryptocurrency, particularly crimes committed by virtual currency exchanges, mixing and tumbling services, and money laundering.” U.S. Deputy Attorney General Lisa Monaco said, “The point is to protect consumers.” DOJ’s New Crypto Enforcement Initiative U.S. Deputy Attorney General Lisa Monaco announced the creation of a National Cryptocurrency Enforcement Team (NCET) during a virtual speech at....
The US Senate committee due to begin hearings into 'virtual currencies' on 18 November has released the responses it received to its August 2013 requests for information on the topic from a number of federal agencies. Until the actual hearings begin, the letters provide one of the most detailed insights so far into how various US government authorities view bitcoin and its contemporaries. The requests from the Senate's Committee on Homeland Security and Governmental Affairs (HSGAC) asked five agencies about their existing policies and procedures regarding virtual currencies, their level of....
The UK government plans on regulating digital currency exchanges in an effort to support technological innovation while preventing criminal use of such technologies. In a document released along side the announcement of the 2015 budget, the Treasury stated that they intended to apply anti-money laundering regulation to digital currencyexchanges within the UK. The Treasury plans to seek consultation later this year to gather views on how the regulations should be shaped to benefit legitimate actors within the digital currency industry. They will also seek council on how to ensure that law....
U.S. Senator Elizabeth Warren has warned of the growing risks of cryptocurrency trading. She recently called on the U.S. Securities and Exchange Commission (SEC) to “use its full authority to address these risks,” adding that “Congress must also step up to close these regulatory gaps.” US Senator Warren Presses SEC to Step Up Crypto Oversight U.S. Senator Elizabeth Warren, who chairs the Senate Banking Committee’s Subcommittee on Economic Policy, warned Thursday of the growing risks posed by the cryptocurrency market. She also blasted the SEC for the lack of....
When Federal authorities discovered that the bank HSBC had knowingly laundering money for both drug cartels and terrorists groups, most of the world expected quick indictments to follow. Instead, unfortunately for justice, the United States Justice Department determined that arresting the guilty parties at the bank because of its size would somehow jeopardize the US and possibly even the global economy. The same thing happened in 2009 when it was discovered numerous banks had been engaging in fraudulent practices that eventually led to the 2008 economic crisis. This time, the president....