China state-affiliated entities have been hacking both public and private organizations in the US for years now. This is part of China’s goal to usurp the US as the world’s top superpower. In an embarrassing revelation, the US Department of Treasury was hacked, including, apparently,… Read More
On Friday, Representative Patrick McHenry, the outgoing Chairman of the House Financial Services Committee, sent a parting shot to Secretary of the Treasury Janet Yellen regarding her profound failure to enable the emerging digital asset sector. The letter was signed by both Republicans and Democrats, displaying a… Read More
Earlier this week, the Secretary of the Treasury, Janet Yellen, testified in front of the House Financial Services Committee. The hearing was scheduled to review the Financial Stability Oversight Council (FSOC). This is a group of federal financial regulators, and others, gathered to address risks… Read More
In a press event this afternoon, US Secretary of the Treasury Janet Yellen called the settlement with Binance a historic action by the agency. In total, Binance is expected to pay $4.3 billion in penalties for its past actions. At the same time, Binance will… Read More
Yesterday, the Secretary of the Treasury Janet Yellen, announced its ambitions in regard to “net zero financing and investment,” outlining their goal of net zero commitments and how they can compel financial services firms to adhere to their ideology. Secretary Yellen said: “Going forward, the… Read More
US Secretary of the Treasury, Janet Yellen, addressed the American Bankers Association today, tackling the topic on everyone’s mind. The precarious financial services industry and the possibility for contagion. The collapse of multiple banks in the US has now spread to Europe. This past week,… Read More
The US Department of Treasury, FDIC and Federal Reserve have joined to protect all account holders at the Silicon Valley Bank (NASDAQ:SIVB), which was taken over by the federal government on Friday. The exceptional action means that accounts holding over $250,000 will have access to… Read More
Senator Sherrod Brown, Chairman of the Senate Banking Committee, has sent a letter to the US Department of Treasury Secretary Janet Yellen expressing his concerns following the bankruptcy filing of FTX. The crypto exchange, once one of the largest crypto exchanges in the world, filed… Read More
Multiple Democrat elected officials are slamming public financial agency leaders in a public letter criticizing the “revolving door” of public officials going over to crypto firms. The letter is signed by Senators Elizabeth Warren and Sheldon Whitehouse, along with Representatives Alexandria Ocasio-Cortez (AOC), Rashida Tlaib,… Read More
The sanctioning of open source crypto mixer Tornado.cash has generated much scrutiny and questions about the legality of a governmental entity punishing code. On August 8th, the US Department of the Treasury’s Office of Foreign Assets Control (OFAC) announced sanctions against the crypto mixer, citing occurrences… Read More
The President’s Working Group (PWG) on Financial Markets met today to discuss the topic of stablecoins. In 2021, the PWG published a report on stablecoins requesting legislation stating: “…in the absence of Congressional action, which is urgently needed to address the prudential risks inherent in… Read More
TerraUSD (UST) has lost its status as a stablecoin as it is now trading at $0.40 $0.35 having dropped to as low as $0.30 in the last 24 hours. UST’s collapse is the hottest story in crypto land as it was, until recently, touted as… Read More
Speaking at American University today, Secretary of the Treasury Janet Yellen addressed the emerging sector of digital assets as well as stablecoins and central bank digital currencies (CBDCs). Secretary Yellen reflected on the growth of digital assets, rising from just $14 billion to around $3… Read More
Yesterday, the U.S. Department of the Treasury sanctioned dark web marketplace Hydra Market, labeling it a pernicious site for malicious cybercrime services, dangerous drugs, ransomware, and other illicit activity. Hydra Market is said to be based in Russia. Also sanctioned, Garantex is a crypto exchange… Read More
Secretary of Treasury Janet Yellen has issued a commend on the Executive Order published today that addresses the fast-growing digital asset industry. Secretary Yellen said that President Joe Biden’s order calls for a coordinated approach to digital asset policy: “This approach will support responsible innovation… Read More
The US Department of Treasury has issued a statement today following a flurry of international actions over the weekend that sought to cut off Russia from global markets while freezing assets of certain individuals and other entities. Treasury said the actions were taken following the… Read More
As Russian President Vladimir Putin shocked the world with his horrific invasion of Ukraine, many nations enacted economic sanctions to punish the rogue country as Europe entered a state of war. Following Putin’s effective annexation of Donetsk and Luhansk (Donetsk and Luhansk People’s Republics… Read More
Representative Patrick McHenry has joined with Representative Tim Ryan demanding that Secretary of the Treasury Janet Yellen clarify digital asset reporting requirements. McHenry is the ranking member on the House Committee on Financial Services and Ryan is a Democrat. The two are the original co-sponsors… Read More
The Secretary of the Treasury Janet Yellen has provided responses to questions put forth by Senator Pat Toomey – the ranking Republican on the Senate Banking Committee. The questions are in follow-up to a recent hearing at the Committee. Yellen, along with Fed Chairman Jerome… Read More
Jerome Powell has been renominated by President Joe Biden to continue on as the Chairman of the Federal Reserve. Dr. Lael Brainard was selected to serve as Vice-Chair of the Board of Governors of the Federal Reserve System. In recent days there has been much… Read More
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