US Treasury plans to ask public if crypto-related regulations are 'no longer ...
The public has until Nov. 3 to submit comments on the Treasury addressing ransomware attacks, the illicit finance risks of cryptocurrency mixers and DeFi, and coordinating AML/CFT policy. The United States Department of the Treasury will be calling for comments from the public on digital assets, including their views on how regulations may address the illicit uses of crypto.In a document set to be published in the Federal Register on Tuesday, the U.S. Treasury requested public comment on “digital-asset-related illicit finance and national security risks as well as the publicly released....
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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....
As you all know, United Kingdom recently released a treasury report that explained plans for regulating bitcoin and other cryptocurrency based businesses by bringing in Anti-money Laundering (AML) regulations. This report received mixed response from the bitcoin startup community across the country. The Her Majesty's Treasury report - Digital currencies: response to the call for information is a comprehensive report created after due consultation with 120 respondents. These 120 respondents viz. digital currency using public, developers, businesses involved in digital and cryptocurrency....
The UK Treasury has said that it won’t seek to impose anti-money laundering (AML) rules on digital currency wallet providers in a bid to avoid overburdening those services. The remarks were issued last week in a report that detailed the UK government's plans to tackle money laundering and terrorist financing risks more broadly. According to the report, the UK Treasury plans to bring digital currency exchange firms "into anti-money laundering regulation", reinforcing plans first announced last year. However, an outstanding question at the time related to whether these rules would....
Four U.S. lawmakers have sent a letter to Treasury Secretary Steven Mnuchin, warning of the risks of restricting the use of self-hosted cryptocurrency wallets. Their concerns follow reports that the Treasury Department may be on the verge of imposing such strict cryptocurrency regulations aimed at self-hosted crypto wallets. Crypto Regulations That Could Make Existing Self-Hosted Wallet Users Criminals U.S. Congressmen Warren Davidson, Tom Emmer, Ted Budd, and Scott Perry sent a letter to Treasury Secretary Steven Mnuchin on Wednesday outlining their “concern regarding reports that....
The U.S. Treasury affirmed that crypto miners and wallet operators are exempt from the IRS reporting rules, preparing appropriate regulations. The cryptocurrency industry in the United States is about to score a major legal win as the U.S. Treasury Department plans to spare crypto miners, and other "ancillary parties" from tax reporting rules.In a letter to a group of senators on Friday, the U.S. Treasury indicated that it plans to exempt crypto miners, stakers and other market participants from rules that would require crypto brokers to share data on their clients’ transactions with the....