Secretary of the Treasury Scott Bessent is picking up another leadership role as President Donald Trump named Bessent Acting Director of the Consumer Financial Protection Bureau (CFPB). As Bessent steps in, Rohit Chopra, the Director under the Biden Administration, is now without a job. Bessent… Read More
Scott Bessant, incoming President Donald Trump’s selection to become the Secretary of the Treasury, is not supportive of a CBDC or central bank digital currency. A graduate of Yale, Bessent is a hedge fund manager who worked for George Soros at one time, but today,… Read More
A recent report released by the US Treasury has called on banking institutions to enhance their risk management controls/frameworks so that they can avoid being overwhelmed by AI-powered fraudsters and malicious cybercriminals. The research report, which is reportedly the end result of an executive order… Read More
On November 3, 2023, the United States Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned Russian national Ekaterina Zhdanova for using cryptocurrency “to launder money on behalf of Russian elites, ransomware groups, and other bad actors.” Chainalysis has examined the three Bitcoin… 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
The US Department of Treasury hosted the U.S. Financial Sector Innovation Policy Roundtable the past two days. Policymakers and regulators, as well as members of the private sector, participated in the meeting to discuss policy issues surrounding Fintech and innovation “fostering economic recovery, competitiveness, and financial… Read More
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