Cryptocurrency is increasingly becoming a safe haven for “malign actors” such as terror groups. That’s according to testimony Tuesday (April 9) by U.S. Treasury Deputy Secretary Wally Adeyemo, who spoke before the Senate Banking Committee. “Our problem is that actors are increasingly finding ways to...
Authorities are reportedly investigating billions in cryptocurrency transfers that moved through a Russia-based exchange. The probe into the $20 billion-plus payments is part of efforts by the U.S. and Great Britain to crack down on sanctions evasions amid Russia’s war in Ukraine, Bloomberg News reported Thursday...
A top House Republican says the White House’s new beneficial ownership rules are needlessly complex. U.S. Rep. Patrick McHenry, (R-N.C.), head of the House Financial Services Committee, questioned the new reporting requirements during a hearing on Wednesday (Feb. 14). Under the new rules, many businesses are required to...
Stablecoins need more regulation. Stablecoins might, in some cases, cause runs. And as government officials and financial institutions (through the Bank for International Settlements) sound some alarms about stablecoins, it remains to be seen whether the digital holdings will satisfy some of the key use...
April 03, 2023
Digital is often a one-way street, and the finance sector appears to be taking it. This is as the future of money movement looks set to reach a crescendo this July when Federal Reserve launches its long-awaited payments service, FedNow Service. When FedNow goes live, there will be no turning back. Insiders on the government […]
September 16, 2022
Anyone expecting the blueprints for legislation to regulate cryptocurrencies from the three reports the Treasury Department released Friday (Sept. 16) will be sorely disappointed. While extensive, the reports produced in...
May 01, 2020
Since the launch of the Paycheck Protection Program (PPP) in early April, the single-minded focus of the U.S. Treasury, the banks approved to process PPP loans and the small- to medium-sized businesses...
October 17, 2024
The U.S. Treasury Department said artificial intelligence (AI) has helped fuel a fraud/improper payments recovery. The department announced Thursday that its “technology and data-driven” approach allowed it to prevent and recover more than $4 billion in fraud and improper payments, up from $652 million during 2023. “This increase reflects dedicated efforts by the Treasury’s Office […]
April 10, 2024
Cryptocurrency is increasingly becoming a safe haven for “malign actors” such as terror groups. That’s according to testimony Tuesday (April 9) by U.S. Treasury Deputy Secretary Wally Adeyemo, who spoke...
March 28, 2024
Authorities are reportedly investigating billions in cryptocurrency transfers that moved through a Russia-based exchange. The probe into the $20 billion-plus payments is part of efforts by the U.S. and Great Britain...
February 14, 2024
A top House Republican says the White House’s new beneficial ownership rules are needlessly complex. U.S. Rep. Patrick McHenry, (R-N.C.), head of the House Financial Services Committee, questioned the new reporting requirements during...
