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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 … Read more
The U.S. Treasury Department has sanctioned a second cryptocurrency exchange “for facilitating financial transactions for ransomware actors.” Two ransomware operators have also been sanctioned and $6.1 million in funds were seized. US Treasury Sanctions Another Cryptocurrency Exchange The U.S. Department of the Treasury announced Monday that its Office of Foreign Assets Control (OFAC) has sanctioned … Read more
Long-dated US Treasury yields are slumping ahead of the Jackson Hole meeting. Go to Source Powered by WPeMatico
The U.S. Securities and Exchange Commission (SEC) has urged Congress to pass cryptocurrency legislation to protect investors, the new SEC chairman has revealed. The securities regulator is also working with the Commodity Futures Trading Commission (CFTC) and the U.S. Treasury Department to combat criminal activity facilitated by cryptocurrencies, the chairman noted. SEC Working With CFTC, … Read more
The New Civil Liberties Alliance has objected to FinCEN’s proposed crypto wallet rule, calling it “unlawful.” In addition, the group says that the U.S. Treasury’s “planned ‘crackdown’ on cryptocurrency holders’ private wallets is an unconstitutional power grab.” FinCEN’s Proposed Crypto Wallet Rule Is Unlawful, Says NCLA The New Civil Liberties Alliance (NCLA), a nonpartisan, nonprofit … Read more
Acting Comptroller of the Currency Brian P. Brooks is officially stepping down after eight months at the OCC. Go to Source Powered by WPeMatico
The Financial Crimes Enforcement Network (FinCEN) has announced that it will soon propose new regulation affecting cryptocurrency holdings at foreign exchanges. This proposal is separate from the one FinCEN recently proposed on cryptocurrency wallets. FinCEN’s New Crypto Rules FinCEN, a bureau of the U.S. Department of the Treasury, issued a notice on Thursday regarding a … Read more
The U.S. Treasury Department’s Financial Crimes Enforcement Network (FinCEN) issued a warning that alerts financial institutions in the United States about increasing ransomware attacks against coronavirus vaccine research organizations. US Treasury Warns of Ransomware Attacks, Phishing Schemes Targeting Covid-19 Vaccine Research Institutions According to the alert, FinCEN says that fraud, ransomware attacks, and “similar types … Read more
Following bitcoin’s sharp pullback on November 26, renowned trader Peter Brandt says BTC is likely to see a further correction, although he thinks prices have not topped. The comments follow the massive sell-off of cryptos that resulted in traded volumes of $8.5 billion being recorded across exchanges in just 24 hours. According to Messari, this … Read more
Bitcoin bull and Galaxy Digital CEO, Mike Novogratz, says bitcoin is for everyone. He argues that those committing 2% to 3% of their net worth to this digital asset today will see substantial gains in five years. Novogratz adds that while bitcoin remains a volatile asset he does not expect its price to drop to … Read more