In its 2024 National Risk Assessments, the U.S. Department of the Treasury has unveiled the concerning trend of criminals increasingly turning to cryptocurrencies to finance illegal activities. US Treasury Reports Identify Crypto’s Role in Illicit Finance The U.S. Department of the Treasury announced in a press release that it has issued its 2024 National Risk […]
Four U.S. lawmakers have pressed Treasury Secretary Janet Yellen regarding crypto oversight gaps. The Financial Stability Oversight Council (FSOC), which Yellen chairs, has issued “repeated warnings about the lack of oversight of the digital asset markets,” the lawmakers detailed, questioning Yellen how the council believes existing laws should apply bitcoin, ether, and non-security crypto assets. […]
Barely a month after raising $ 850 million from an auction of dollar-denominated treasury bills, the CBE was reportedly poised to raise $ 1 billion via similar instruments. The decision to hike overnight interest is said to be part of the central bank’s ongoing efforts to stabilize Egypt’s teetering economy. Easing Pressure on …
The Spanish Treasury is proposing a tax reform to allow the seizure of cryptocurrency assets when liquidating tax debts. According to local sources, the proposal would also allow the state administration to embargo these digital assets as it is giving the first steps by declaring electronic money entities as tax collection agents. Spanish Treasury Seeks […]
Amidst public interest, the Bank of England and HM Treasury have addressed key concerns regarding the digital pound, reassuring the public of stringent legislative measures for privacy and control, alongside the maintenance of traditional cash. HM Treasury and Bank of England Respond to Public’s Digital Currency Concerns, No Final Decision yet on Digital Pound The […]
Janet Yellen, U.S. Treasury Secretary and former Chairman of the U.S. Federal Reserve, believes that the recent improvements in the American economy show that the country has achieved a soft landing. For Yellen, the recent low figures of inflation and the strength of the labor market are signs of this scenario. Janet Yellen Declares U.S. […]
U.S. Treasury Secretary Janet Yellen believes that inflation has come down meaningfully but there’s still further to go for the Federal Reserve to achieve its 2% inflation target. She noted that the central bank has two risks to manage. “One is that inflation doesn’t come down back to their target as they envisioned, and the […]
The U.S. deputy secretary of the Treasury has revealed that the Treasury Department has asked Congress for more tools and authorities “to go after illicit actors in the digital asset space.” Moreover, he stressed: “We need to update our illicit finance authorities to match the challenges we face today, including those presented by the evolving […]
United States Deputy Secretary of the Treasury Wally Adeyemo says the Biden administration is seeking more tools to combat the illicit use of crypto. “We’re going to work with Congress to get more tools,” he stressed, advising the crypto industry to “make sure that you’re protecting yourselves from being in a position where people are […]
U.S. Treasury Deputy Secretary Wally Adeyemo says crypto is not the vast majority of the ways terrorist groups are funded, noting that these organizations “continued to use the traditional banking system.” His statements followed media reports claiming that Hamas raised a large sum of money in cryptocurrency. Crypto Not Major Funding Source for Terrorist Groups […]
Year-to-date, bitcoin (BTC), the leading digital currency by market cap, has witnessed a staggering increase of over 100%, sparking curiosity about the duration of its upward trajectory. In a Thursday interview with Gareth Soloway, the head market strategist at inthemoneystocks.com, the expert delved into the potential longevity of this rally. Soloway also touched upon the […]
This weekend, bitcoin enthusiasts discussed the latest update to bitcointreasuries.net, which offers a new visual of the various companies, countries and funds with bitcoin on their balance sheets. The site indicates that Microstrategy owns 158,245 BTC, while Block.one, the company behind the development of the EOS network, reportedly holds 164,000 BTC. Behind the Bitcoin Balance […]
In the turbulent macroeconomic landscape marked by clashes in Ukraine and Israel, and with the Fed’s Jerome Powell alluding to persistent and escalated interest rates, the 10-year Treasury note has soared to 5% — a milestone not seen since 2007. Amid this whirlwind, both gold and silver have enjoyed a surge, paralleling the ascent of […]
Seven U.S. senators have called on the Treasury Department and the Internal Revenue Service (IRS) to “implement the proposed crypto broker reporting rule as rapidly as possible.†The lawmakers stressed: “We are alarmed by the self-inflicted two-year delay for the rule’s implementation.†Senators Want Crypto Tax Reporting Rule Implemented Swiftly Senators Elizabeth Warren, Angus King, […]
Backed Finance, a real-world asset tokenization issuer, announced its successful issuance of the first tokenized security on Coinbase’s Base, a layer two (L2) blockchain. The team introduced bIB01 tokens to the decentralized finance (defi) sector, mirroring the price dynamics of the Ishares short-term Treasury bond ETF. Tokenizing U.S. Bonds on Coinbase’s L2 According to Backed […]