illicit finance – DIGIT INFO

Congress lacking crypto education will lead to ‘bad laws’ — Coinbase CSO

DIGIT — Wed, 16 Oct 2024 04:23:59 +0000

Phillip Martin told Cointelegraph that Coinbase has focused on educating lawmakers on crypto as they “make much better decisions” on regulation.

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US sanctions Russian crypto platforms for money laundering ties

DIGIT — Thu, 26 Sep 2024 21:33:31 +0000

Two crypto exchanges and two individuals have been sanctioned for ties to underground finance.

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FATF Urges India to Strengthen Virtual Asset Regulation

DIGIT — Sat, 21 Sep 2024 01:46:24 +0000

India has achieved a high level of technical compliance with Financial Action Task Force (FATF) standards, addressing illicit finance, money laundering, and terrorist financing. In a joint assessment with regional bodies, the FATF praised India’s progress but pointed out areas needing improvement, especially in regulating the non-financial sector and virtual asset providers. The country was […]

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Proposed US Blockchain Integrity Act would ban crypto mixers for 2 years

DIGIT — Wed, 08 May 2024 18:00:00 +0000

The bill introduced in the House would impose a fine of up to $100,000 for handling funds from mixers, while the Treasury writes a report.

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Bitcoin no longer crypto of choice for illicit crypto activity: TRM Labs

DIGIT — Wed, 28 Jun 2023 12:20:08 +0000

While fiat channels remain the dominant tool for criminal financing, Bitcoin appears to have fallen out of favor for criminals as far as cryptocurrencies go.

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US Treasury and White House to Hold Regular Meetings on CBDCs and Payment Innovations

DIGIT — Thu, 02 Mar 2023 15:30:29 +0000

On March 1, 2023, Nellie Liang, undersecretary for domestic finance at the U.S. Treasury, delivered a speech to the Atlantic Council in Washington concerning the subject of central bank digital currencies (CBDCs). Liang detailed during her speech that a CBDC is one of several options for “upgrading the legacy capabilities of central bank money,” and […]

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US Treasury Seeks Public Comments on Crypto-Related Illicit Finance and National Security Risks

DIGIT — Tue, 20 Sep 2022 23:30:40 +0000

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 […]

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US Treasury Official: We Don’t See That Crypto Could Be Used in Large-Scale Way to Evade Sanctions

DIGIT — Sun, 20 Mar 2022 22:00:03 +0000

The U.S. Department of the Treasury does not see that cryptocurrency could be used in a large-scale way to evade sanctions. “Its share as a medium for illicit finance is not anywhere as large as just using cash,” a senior Treasury official noted. Treasury Department’s View on Crypto Use to Evade Sanctions Nellie Liang, Treasury […]

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US Treasury Warns NFTs May Present New Illicit Finance Risks

DIGIT — Sun, 06 Feb 2022 22:30:19 +0000

The U.S. treasury department has warned that non-fungible tokens (NFTs) may present new illicit finance risks. According to industry estimates, the NFT market could reach $35 billion in 2022 and more than $80 billion by 2025. NFTs May Present Illicit Finance Risks The U.S. Department of the Treasury announced Friday the release of a “study […]

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Janet Yellen Warns Bitcoin Is ‘Extremely Inefficient’ and ‘Highly Speculative’ as BTC Price Plunges

DIGIT — Tue, 23 Feb 2021 11:45:51 +0000

U.S. Treasury Secretary Janet Yellen has warned about the dangers of bitcoin as the price of the cryptocurrency took a nosedive. She sees bitcoin as a highly speculative asset and is worried about potential losses investors can suffer. Yellen also believes that bitcoin is not widely used as a transaction mechanism due to its inefficiency, […]

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