U.S. Lawmakers Urge Treasury to Revise Proposed Crypto Tax Rules
A letter by a bipartisan group of U.S. lawmakers has urged the U.S. Treasury to revise its proposed digital-assets taxation regime.
U.S. Crypto Tax Proposal Lets Miners off the Hook, Snares ‘Some’ Decentralized Exchanges
The U.S. Treasury Department has finally unveiled its definition of a “broker” for the crypto industry, defining how crypto companies and investors will need to meet tax reporting obligations and answering a years-old question over whether decentralized finance platforms and miners will need to gather their users’ personal data.
U.S. Sanctions Watchdog Alleges Russia-Linked Crypto Wallet Processed $5M
An Irish national helped wealthy Russians evade sanctions and hide money in UAE, OFAC alleged Friday.
Crypto Exchange Poloniex Agrees to $7.6M Fee to Settle Sanctions Violation Charges
Crypto exchange Poloniex will remit $7.59 million to settle sanctions violations allegations with the U.S. Treasury Department’s Office of Foreign Asset Control (OFAC), the sanctions watchdog announced Monday.
U.S. Sanctions 3 North Koreans for Supporting Hacking Group Known for Crypto Thefts
The U.S. Treasury Department’s sanctions watchdog banned three North Korean individuals for supporting the Lazarus Group, a North Korean hacking team known for crypto thefts.
U.S. Treasury Department Proposes 30% Excise Tax on Crypto Mining Firms
A provision in the department’s “Greenbook,” its list of tax proposals and explanations for U.S. President Joe Biden’s budget proposal, would create a phased-in excise tax based on the costs of the electricity used in crypto mining, imposed on the companies “using computing resources” to mine cryptocurrencies.
Biden Budget Plan Would Close Crypto Tax Loss Harvesting Loophole
U.S. President Joe Biden’s proposed budget will include a provision to close tax loss harvesting on crypto transactions.
The Relationship Between US Government Debt and Bitcoin, Explained
Bitcoiners are looking for persistent USD inflation to validate their favorite asset. That’s unlikely to happen soon, economists say, but low interest rates are still a boon for BTC.
Gary Gensler Under Consideration for Deputy Treasury Secretary Role: Report
Former CFTC Chair Gary Gensler, who’s leading Joe Biden’s financial oversight team, may be tapped as Deputy Treasury Secretary.
In Her Own Words: Here’s What Janet Yellen Has Said About Bitcoin
Janet Yellen wasn’t a fan of bitcoin when she ran the Fed. Her views as Treasury Secretary may shape crypto regulation over the next four years.
Biden to Tap Former Fed Chair Janet Yellen as Treasury Secretary
Former Fed Chair Janet Yellen will be tapped to run the Treasury Department, where she will oversee federal agencies that impact crypto.
US Agency Says Chinese Drug Traffickers Used Bitcoin to Launder Proceeds
The U.S. Office of Foreign Asset Control has sanctioned four Chinese residents, claiming they helped launder drug proceeds using bitcoin.
US Treasury to Monitor Libra Over Possible Financial Risks
The Treasury Department has committed to monitoring the Facebook-led cryptocurrency project Libra alongside regulatory efforts by Congress.
US Treasury Blacklists Bitcoin, Litecoin Addresses of Chinese ‘Drug Kingpins’
The U.S. Treasury’s OFAC has put bitcoin and litecoin addresses of three Chinese nationals on its sanctions list, the second time the agency has blacklisted crypto wallets.
US Treasury Sanctions Russian Bank Over Links to Venezuela’s Petro
The U.S. Department of the Treasury has sanctioned a Moscow-based bank over its role in financing Venezuela’s controversial petro token.
US Regulators Tie Two Bitcoin Addresses to Iranian Ransomware Plot
For the first time, the U.S. Treasury Department is adding crypto addresses to its list of Specially Designated Nationals.