US Treasury Targets Crypto Exchanges in Whole-of-Government Effort to Counter...
The U.S. Department of the Treasury has taken actions targeting cryptocurrency exchanges “responsible for laundering ransoms” as part of the whole-of-government effort to counter ransomware. One cryptocurrency exchange has already been sanctioned along with related crypto addresses. “We will continue to crack down on malicious actors,” said Treasury Secretary Janet Yellen. US Government Targets Crypto Exchanges in Ransomware Fight The U.S. Treasury Department announced a set of actions to counter ransomware Tuesday, which include the publication of an....
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The US Treasury Department has recently published a proposed rule requiring cryptocurrency brokers, including exchanges and payment processors, to report user information regarding sales and exchanges of digital assets to the Internal Revenue Service (IRS). According to a CNBC report, the move is part of a broader effort by Congress and regulatory authorities to crack […]
David Sacks, the White House’s crypto czar, has disclosed the intentions of the Treasury Department to concentrate on increasing the value of Bitcoin, XRP, and other digital assets that the US government owns. This, after US President Donald Trump signed an executive order to establish a strategic reserve of cryptocurrencies by using tokens already held […]
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....
The UK Treasury has announced a series of initiatives dealing with digital currency in a landmark report published in conjunction with the Chancellor of the Exchequer's annual budget speech today. The announcement is the government's first major attempt to grapple with the regulatory and consumer safety issues surrounding digital currencies. The report is largely positive towards digital currencies, noting its potential as a payments technology, while also underlining its nascent state and the potential risks associated with its use. The report said: "The government considers that digital....
Her Majesty’s Treasury in the U.K. issued a document that details a series of proposals addressing the crypto community. With the consultation, the Treasury is initiating a “regulatory approach to cryptoassets and stablecoins” for 2021 following the Brexit turmoil. Special Focus on Stablecoin Regulation According to the official announcement, the consultation mainly targets stablecoins to gather investments and wholesale uses. The HM Treasury expects to collect insights from the “industry and stakeholders” in the crypto sphere until March 21, 2021. In 2018,....