FinCEN Wants US Citizens to Disclose Offshore Crypto Holdings of $10K+

The Financial Crimes Enforcement Network (FinCEN), the U.S. Treasury Department wing tasked with monitoring potential legal violations of domestic financial laws, wants Americans to report if they have more than $10,000 in cryptocurrencies with foreign financial or virtual asset service providers. FinCEN announced its intention to amend the Bank Secrecy Act’s Foreign Bank and Financial […]

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FinCEN Proposes KYC Rules for Crypto Wallets

U.S. crypto users hoping to transfer their holdings from an exchange to their own self-hosted wallets may need to comply with new know-your-customer requirements as the Treasury Department proposed a new rule on Friday. Under the advanced notice of proposed rulemaking (ANPR), users who want to transfer their cryptocurrencies off of centralized exchanges and onto […]

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US Treasury Bulking Up Crypto Policy Advisers as Wallet Reg Rumors Swirl

The Financial Crimes Enforcement Network (FinCEN), the top financial crimes watchdog within the U.S. Treasury Department, is hiring two policy officers to help draft regulations for the cryptocurrency space. Disclosed in Dec. 11 job postings, these Strategic Policy Officers will “assist in the development of policy responses” to “threats” posed by cryptocurrency, issue advisories to […]

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US Treasury Wants Regulators to Watch for ‘Potential Risks’ in Digital Asset Innovation

The U.S. Department of the Treasury wants state and federal regulators to keep a vigilant watch on digital asset innovation. According to a report released on Thursday by the Financial Stability Oversight Council, digital assets are a “particularly good example” of both benefits and potential risks associated with innovation. The report highlighted the ambitions by […]

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‘It’s Something We’re Studying’: Deputy Treasury Secretary Discusses US CBDC Plans

The U.S. Treasury Department is evaluating the merits of a government-sponsored digital currency, said one of its top officials Wednesday. Deputy Treasury Secretary Justin Muzinich, speaking to the Atlantic Council during a digital seminar on trans-Atlantic economic relations, said the administration is studying a potential central bank digital currency (CBDC) tied to the dollar, alongside […]

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Andreessen Horowitz Tackles Washington’s Crypto Cops in Unusual Private Sitdown

VC firm Andreessen Horowitz Co-Founder Marc Andreessen reportedly delivered the opening remarks to a cadre of Washington regulators. | Source: REUTERS/Lucy Nicholson By CCN Markets: Angel investment and venture capital firm, Andreessen Horowitz, has taken an “unusual” measure in the fight against Washington’s clampdown on cryptocurrency. To secure its stake within the emerging crypto industry, […]

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US Treasury Blackballs Bitcoin Addresses of Chinese Drug Kingpins

The US Treasury is blacklisting specific bitcoin addresses related to Chinese druglords. | Source: Shutterstock By CCN Markets: The U.S. Treasury Department blackballed the bitcoin addresses of Chinese drug kingpins operating international drug-trafficking rings. It’s part of a move to curb the opioid epidemic ravaging the United States. The Treasury’s Office of Foreign Assets Control […]

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