With 6 hours left, Treasury logs almost 6000 comments on crypto monitoring pr...
It looks like crypto stakeholders turned out in force, despite the Treasury's best efforts to evade scrutiny. Despite many objections to the truncated timeframe, public comments are due tonight in response to the U.S. Treasury's proposal to require businesses like crypto exchanges to know the identities behind wallets with which they transact. As of Sunday night, the Treasury's Financial Crimes Enforcement Network, or FinCEN, had recorded 5,633 responses to its proposed rule. That number is despite the fact that FinCEN gave only 15 days, rather than the usual 60 for responses.The office....
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U.S. Treasury Secretary Janet Yellen says the Treasury Department is monitoring Russian efforts to evade sanctions using cryptocurrency. Four U.S. senators have written to Yellen raising concerns about Russia using cryptocurrency as a channel to circumvent sanctions.
Treasury Secretary Janet Yellen on Monitoring Russian Efforts to Use Cryptocurrency to Evade Sanctions
U.S. Treasury Secretary Janet Yellen talked about the Treasury Department monitoring Russian efforts to evade sanctions using crypto at an event hosted by the University of Illinois Wednesday, the Wall Street....
The Treasury has opened up the comment period for its self-hosted wallet requirements for another 60 days. The United States Treasury Department's now-infamous proposal to require information on crypto transfers from exchanges to self-hosted wallets is back in motion.Per a Tuesday announcement from the Financial Crimes Enforcement Network, or FinCEN, stakeholders will have another 60 days to respond to the proposal. While a marked improvement from the 15-day comment period of the original proposal, unfortunately for the crypto industry, it doesn't look like the actual terms of the proposal....
Ripple is trading in a contracting range above $0.6000 against the US Dollar. XRP price is setting up for a major break either above $0.6200 or below $0.5800. Ripple is showing a few positive signs above $0.6000 and $0.5800 against the US dollar. The price is stuck above $0.6000 and the 100 simple moving average […]
A big win for the crypto industry today, which was unanimous in opposition to a new anti-money laundering rule that many saw as rushed and draconian. In response to a deluge of comments, the Treasury's anti-money laundering office is slowing its roll on a rushed proposal to monitor a whole new range of cryptocurrency transactions.On Jan. 14, the Treasury's Financial Crimes Enforcement Network (FinCEN) announced that they were extending the window on comments in response to a rule originally announced two days before Christmas and less than a month before a new administration takes over.....
The U.S. Department of the Treasury is seeking public input on “digital-asset-related illicit finance and national security risks.” The department warned: “The growing use of digital assets in financial activity heightens risks of crimes such as money laundering, terrorist and proliferation financing, fraud and theft schemes, and corruption.”
US Treasury Wants Public Comments on Crypto-Related Illicit Finance
The U.S. Department of the Treasury published a notice Tuesday inviting “interested members of the public to provide input pursuant to....