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Treasury plots stablecoin crackdown even as Tether’s dominance wanes

While Tether’s dominance has fallen to 56%, USDC and BUSD have surged to 23.9% and 10.4% respectively.

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IRS, Janet Yellen Press Lawmakers to Push ‘Tax Compliance Agenda’ — Banks to Report Deposits, Withdrawals of $600

On Wednesday, US Internal Revenue Service (IRS) commissioner Charles Rettig and Janet Yellen, the Treasury secretary, urged lawmakers to give the IRS permission to report annual inflows and outflows from American bank accounts.

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MicroStrategy’s Bitcoin treasury exceeds cash held by 80% of S&P 500 non-financial companies

The Nasdaq-listed company recently announced it added another 5,050 Bitcoin to its coffers for about $242.9 million. The value of MicroStrategy’s massive Bitcoin (BTC) holdings has surpassed what most S&P 500 companies hold in their cash treasuries.The Nasdaq-listed enterprise software firm purchased an additional 5,050 Bitcoin for about $242.9 million, raising the value of its 114,042 BTC holdings to nearly $5.3 billion. Tha

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Is MicroStrategy's Bitcoin spree simply about 'buying the dip'

MicroStrategy, the first publicly-traded company to adopt Bitcoin as its "Primary Treasury Reserve Asset," has continued with its Bitcoin buying spree. Just recently, MicroStrategy (MSTR) CEO MichaThe post Is MicroStrategy's Bitcoin spree simply about 'buying the dip' appeared first on AMBCrypto.

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MicroStrategy doles out $240M on additional Bitcoin purchase

The company's Q3 Bitcoin spend now stands at almost $420 million following this latest BTC acquisition. Business intelligence outfit and corporate Bitcoin (BTC) whale MicroStrategy has increased its BTC ownership with the additional purchase announced on Monday.MicroStrategy CEO Michael Saylor announced the purchase of 5,050 BTC for about $242.9 million at an average of $48,099 per coin.In a Form 8-K filing with the United States Securities and Exchange Commission published on Monday, MicroStrategy stated that it has added 8,957 BTC to its corporate Bitcoin treasury in Q3 2021.As previously reported by Cointelegraph, MicroStrategy recently bought 3,907 BTC at the cost of about $177 million between July 1 and Aug.

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US Treasury reportedly in talks for stablecoin regulation

Treasury officials are studying the risks if too many people decide to withdraw their stablecoins all at once. Amid massive growth of the stablecoin market, the United States Treasury Department has reportedly discussed potential regulation for private stablecoins.The Treasury conducted several meetings last week to examine the risks of stablecoins for users, markets, or the financial system, as well as learn about their benefits and consider potential regulation, Reuters reported Sept 10.“The Treasury Department is meeting with a broad range of stakeholders, including consumer advocates, members of Congress and market participants,” Treasury spokesman John Rizzo said.Citing three anonymous sources familiar with the matter, the report notes that one of the Treasury’s meetings took place last Friday, with officials asking the crypto community whether stablecoins would require direct oversight if this type of cryptocurrency becomes widely adopted.

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US Treasury Department Officials Discuss ‘Risks and Benefits Posed by Stablecoins’ With Players From Financial Industry

The US Treasury Department is reported to have held meetings with participants from the country’s financial industry to discuss “the risks and benefits posed by stablecoins.” In addition, officials are said to have used the meetings to discuss “whether stablecoins would require direct oversight if they become extremely popular.” Policymakers Alarmed by Growth of Crypto […]

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Securities, Liquidations, and 20 Volatile Crypto Jokes

-in-starbucks-mcdonalds-and-everywhere-in-el-salvador.htm">keeping BTC as a treasury reserve asset - yet Bitcoin still has a mountain to climb. ..

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Ruler and Cover DeFi protocol closes down amid mass developer exit

DeFi insurance protocol Ruler and Cover pledged to share the remaining treasury funds to token holders. In a candid open letter, the lead contributor of Cover and Ruler Protocol, “DeFi Ted,” announced the protocol will close its virtual doors in the near future, citing a mass developer exit as the primary reason for the project’s conclusion.Launched earlier this year, the Ethereum-based decentralized finance (DeFi) insurance marketplace enabled users to stake Cover tokens as collateral and receive insurance payouts if their assets in other DeFi protocols are hacked or rug-pulled.

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3 reasons why a Bitcoin ETF approval will be a game changer for BTC price

A Bitcoin ETF approval will open the door for more conservative investors and this could have an irreversible impact on BTC price. Some financial experts believe that the price of cryptocurrencies is solely driven by investors' speculation, and in the past few years detractors have suggested that fixed income instruments like treasury bills have no relation to do with digital assets.

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Treasury attempts to squeeze further crypto-related data sharing provisions in budget bill: Roll Call

Further requirements on crypto firms could be on the way as the administration is looking for new revenue streams. US Department of the Treasury will reportedly push to extend the reach of new rules designed to govern the cryptocurrency space.

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Treasury Wants Crypto Reporting Rules in $3.5 Trillion Reconciliation Bill: Report

Like the provision in the $1 trillion infrastructure bill, this is all about clamping down on tax evasion.

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US Treasury Assures Crypto Requirements in Infrastructure Bill Won’t Target Non-Brokers Even Without Amendment

Despite the broad definition of a broker in the $1.2 trillion infrastructure bill, an official of the US Treasury Department says that non-brokers will not be targeted even if the bill is not amended.

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Rich Dad Poor Dad’s Robert Kiyosaki Says Bitcoin Is the Investment With ‘the Greatest Upside’

Rich Dad Poor Dad author Robert Kiyosaki says “Bitcoin has the greatest upside.” He also revealed that he invests in the cryptocurrency because he does not trust “our leaders, the Fed, Treasury, nor the stock market.” Robert Kiyosaki Reveals Why He Buys Bitcoin, Says the Crypto Has the Biggest Upside Robert Kiyosaki, the renowned author […]

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MicroStrategy Spends Another USD 177M on Bitcoin

The first publicly-traded company to put bitcoin (BTC) on its balance sheet as a primary treasury reserve asset, US-based software intelligence firm MicroStrategy, announced yet another purchase of bitcoin.

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U-Turn: Centre to Convert USDC Reserves to Cash and US Treasuries

One month after expanding the USDC reserves, Centre is making a u-turn and will reverse the stablecoin's reserves to cash and US treasury bills.

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Bloomberg strategist explains why 30-year US bonds have 'bullish implications' for Bitcoin

Long-dated US Treasury yields are slumping ahead of the Jackson Hole meeting.

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Former US Treasury official joins Binance to lead AML efforts

Former IRS supervisor Greg Monahan replaces Karen Leong as the global money laundering reporting officer of Binance. Former United States Treasury Criminal Investigator Greg Monahan joined major cryptocurrency exchange Binance to oversee the company’s international Anti-Money Laundering (AML) efforts, the exchange announced on Wednesday.Before replacing Karen Leong as the global money laundering reporting officer at Binance, Monahan worked for the US Treasury for almost 20 years as a member of the Internal Revenue Service’s criminal investigation unit.

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Binance Hires Former US Treasury Criminal Investigator to Enhance Regulatory Compliance

Amid its growing regulatory scrutiny from global watchdogs, Binance has hired a new Global Money Laundering Reporting Officer.

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Binance Hires Ex-US Treasury Investigator to Head AML Operations

The crypto exchange giant Binance says that it has appointed a former American Treasury official as its new anti-money laundering (AML) enforcer – as the firm apparently moves to get on the good side of regulators around the world. The firm has fallen under scrutiny from regulators in a number of countries in recent months – from Germany and the United Kingdom

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Treasury Dept. wants to ‘capture DeFi’ with infrastructure bill: Jake Chervinsky

General counsel to Compound Labs, Jake Chervinsky, has warned that the Treasury Department wants to “capture” the DeFi sector through the crypto provisions added to the infrastructure bill. The last-minute cryptocurrency provisions added to the US infrastructure bill sought to “capture DeFi,” argues Compound’s general counsel Jake Chervinsky.Appearing on the Bankless State of the Network podcast on August 17, Chervinsky — who is also DeFi Chair of the Blockchain Association — said the industry had been “blindsided” by the infrastructure bill’s crypto tax provisions which were announced just nine days prior to when it was expected to pass through the senate.While Chervinsky seemed willing to give most elected officials the benefit of the doubt, noting that previous discussions surrounding the infrastructure bill had “nothing to do with crypto,” he attributed more sinister motives to the Treasury Department’s role in influencing the legislative process.Conceding he may have donned a “tin-foil hat,” Chervinsky argued that the Treasury Department was looking for an alternate way to invoke the harsh reporting requirements former Treasury Secretary Steve Mnuchin had sought to impose on self-custodied crypto wallets.“This is all about DeFi [...] This is the Treasury Department trying to work out how to get jurisdiction over DeFi [...] and also expand its warrantless surveillance over a peer-to-peer financial system.”Cherversinky stated he was informed that the Treasury Department had initially opposed exempting network validators and software developers from stringent third-party reporting requirements under the bill as it was concerned the altered legislation would not “adequately capture DeFi.”“That’s why we couldn’t get the language changed to only capture the centralized exchanges,” he concluded:“We found out very quickly that it wasn’t just a senator’s misunderstanding [...] The Treasury Departmen

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Treasury to the rescue? Officials to clarify crypto tax reporting rules in infrastructure bill: report

Speaking on condition of anonymity, an official has reportedly told Bloomberg that the Treasury Department is planning to clarify the definition of “broker” in the recently passed infrastructure bill.

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The 50th Anniversary of ‘Nixon Shock:’ How Suspending the Dollar’s Convertibility With Gold Fueled Today’s Fiat World

Approximately 50 years ago today, Americans were introduced to ‘Nixon Shock’ when the 37th president of the United States suspended the convertibility of the US dollar into gold.

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US Treasury Department Looking To Make Impact of Infrastructure Bill More Crypto-Friendly: Report

The US Treasury Department is reportedly issuing new guidance to address the crypto industry’s concerns over the digital asset provision in the latest infrastructure bill.

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US Infra Bill Might Prompt Crypto Business Exodus, Treasury Has a Role Too

If the controversial US infrastructure bill is passed in its current form, it may force crypto companies to leave the country as there's no way to comply with the new requirements.

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US Senators and Treasury Reach Agreement on Crypto Requirements in Infrastructure Bill

Five US senators have been working with the Treasury Department and have come up with a compromise crypto amendment to the $1.2 trillion infrastructure bill.

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Circle plans to become a full-reserve national digital currency bank

Circle is willing to operate under supervision of the Federal Reserve, the US Treasury, the OCC, and the FDIC, CEO Jeremy Allaire said. Goldman Sachs-backed digital payment company Circle has officially disclosed plans to become a full-reserve national digital currency bank in the United States.Announcing the news on Monday, Circle co-founder and CEO Jeremy Allaire noted that Circle is willing to operate under the supervision and risk management requirements of the Federal Reserve, the US Treasury, the Office of the Comptroller of the Currency, and the Federal Deposit Insurance Corporation.“We believe that full-reserve banking, built on digital currency technology, can lead to not just a radically more efficient, but also a safer, more resilient financial system,” Allaire stated.The CEO added that Circle anticipates the company’s stablecoin USD Coin (USDC) will grow t “hundreds of billions of dollars in circulation,” continuing to support high-trust economic activity and becoming a popular tool in financial services and internet commerce applications.

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Infrastructure Bill: Is Treasury Sec Against the Proposed Amendments?

US Treasury Sec is opposed to the pro-Bitcoin amendments to the infrastructure bill.

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US Senator Urges Congress to Stop Treasury From Picking Winners and Losers in Crypto

US Senator Pat Toomey has called on Congress to stop the Treasury Department from maximizing its ability to regulate and tax crypto by picking winners and losers.

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Treasury Secretary Yellen Privately Lobbies Against Tax Amendment Crypto Industry Wants: Report

US Treasury Secretary Janet Yellen has reportedly raised objections to lawmakers about the cryptocurrency tax amendment to the $1 trillion infrastructure bill that is supported by the crypto community.

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Yellen's Treasury Behind Anti-Crypto Tax Provision in Senate Bill: Report

Janet Yellen reportedly influenced a debate in the US Senate over crypto taxation as part of a push by Treasury to crack down on crypto.

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Treasury Secretary reportedly against amending crypto language in infrastructure bill

Janet Yellen's position on a "compromise" amendment proposed yesterday is unclear, but she reportedly raised objections to the language on crypto put forth by Senators Wyden, Lummis, and Toomey. On Wednesday of this week, several US senators proposed an amendment to an infrastructure bill which would clarify language concerning crypto.

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Mike Novogratz blasts US officials for poor grasp of crypto industry

The billionaire crypto proponent said politicians and regulators have a flawed understanding of crypto and its technological underpinnings. Amid the chorus of stringent crypto regulations among several United States leaders, proponents such as Galaxy Digital CEO Mike Novogratz look to counter anti-cryptocurrency sentiments circulating in Washington.Tweeting on Tuesday, Novogratz described crypto as the “future of our financial systems” while adding politicians and regulators ought to do their homework before devising policies to regulate the industry.Novogratz’s tweet was in response to Senator Elizabeth Warren’s remarks where the Senator from Massachusetts once again espoused anti-crypto sentiments, calling cryptocurrency “the wild west” of the US financial system.Senator Warren has been a vocal proponent of more stringent crypto regulatory policies, even querying officials such as Gary Gensler, Chairman of the Securities and Exchange Commission and Treasury Secretary Janet Yellen to come up with stricter rules for digital currencies.Speaking to the Aspen Security Forum on Tuesday, Gensler recognized the value proposition of Bitcoin (BTC) and crypto assets, albeit stating that cryptocurrencies were “highly speculative stores of value.”As previously reported by Cointelegraph, Gensler has expressed the need for more robust crypto regulations in America.

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Multi-Billion Dollar Hedge Fund Goldentree Is Reportedly Adding Bitcoin to Its Balance Sheet

The hedge fund Goldentree, a firm with $41 billion in assets under management (AUM) has reportedly added the leading crypto asset bitcoin to its balance sheet.

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New bill proposes US Treasury to have full authority over fiat stablecoins

The bill also calls for the Federal Reserve to be vested with the clear authority to issue a digital dollar.

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US Treasury Blacklists Another Bitcoin Address With Suspected Terrorist Ties

Farrukh Furkatovitch Fayzimatov is accused of funneling money to Hay’et Tahrir Al-Sham.

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Sen. Warren Nudges Treasury Sec, Regulators to Address Crypto-Related Risks

The request for crypto regulation was re-emphasised through the letter to US Treasury Secretary Janet Yellen by Democrat Senator Elizabeth Warren.

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Senator Warren Urges Treasury Secretary Yellen to Urgently Adopt Policy to Mitigate Cryptocurrencies’ Risks

US Senator Elizabeth Warren has asked Treasury Secretary Janet Yellen to “act with urgency” and adopt an appropriate policy to address the risks posed by cryptocurrencies.

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Sen. Warren urges Treasury Secretary Yellen to combat rising crypto threats

Elizabeth Warren outlined her concerns about the cryptocurrency market in a letter addressed to Janet Yellen that was obtained by CNBC.

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'Exponential' Rise in Crypto Tax Inquiries in Spain as Monitoring Intensifies

The accounting giant PwC says it has seen an “exponential” increase in recent months in inquiries about tax declarations from crypto holders in Spain – where new crypto regulations have come into force. Spain’s Treasury department has already sent out thousands of warning letters to citizens it suspects of trading in crypto, warning them that if they fail to declare

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Janet Yellen Urges Regulators to Move Fast on Regulating Stablecoin Rules

US Treasury Secretary Janet Yellen pushed top US financial regulators to speed up regulations of stablecoin cryptocurrencies.

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Treasury Secretary Yellen Asks US Regulators Overseeing Crypto Assets to ‘Act Quickly’ to Regulate Stablecoins

US Treasury Secretary Janet Yellen has asked the regulators overseeing crypto assets to “act quickly to ensure there is an appropriate US regulatory framework in place” for stablecoins.

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Treasury Secretary Yellen Calls for Quick Regulations on Stablecoins

Janet Yellen urged the American officials to quickly regulate stablecoins as they are growing rapidly and are not supervised properly.

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USDC Operator Happy After Yellen Calls Stablecoins ‘National Security’ Concern

Janet Yellen. Source: A video screenshot, Youtube/Credit Suisse At least one major stablecoin operator has welcomed the news that the American government is set to direct regulators to “act quickly” on fiat-pegged tokens. In an official statement, the American Treasury Secretary Janet Yellen stated that she had convened a President’s Working Group on Financial Markets to examine stablecoins

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Treasury secretary Yellen urges lawmakers to quickly introduce stablecoin guidelines

The President’s Working Group on Financial Markets expects to deliver regulatory recommendations for stablecoins in the coming months. United States Treasury Secretary Janet Yellen has told financial regulators that the government must act quickly to establish a regulatory framework for stablecoins.The comments came at Monday's meeting of the President's Working Group on Financial Markets.

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Treasury Secretary Yellen To Meet With Top Regulators To Discuss Risks and Benefits of Stablecoins

US Treasury Secretary Janet Yellen will be meeting with the President’s Working Group on Financial Markets (PWG) to discuss regulations on stablecoins.

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Turkey’s crypto bill ready for parliament, says Deputy Minister of Finance

The legal draft places a minimum capital requirement for crypto businesses operating in Turkey. The Turkish Ministry of Treasury and Finance announced that a draft bill to establish a legal framework for crypto assets in the country is ready. Deputy Minister Şakir Ercan Gül announced that the crypto bill would be proposed to The Grand National Assembly of Turkey (TBMM), the unicameral Turkish legislature, at the start of the next legislative year in October 2021.Noting that Turkey is using a free-floating exchange regime — i.e.

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US Treasury Secretary Yellen Outlines Plans to Regulate Stablecoins in Collaboration With the Fed, SEC, CFTC

US Treasury Secretary Janet Yellen will convene a meeting with the Biden administration’s working group on financial markets to discuss stablecoin regulation.

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Thorchain Tapping Treasury to Repay $5M in Ethereum After Attack

An attack on Thorchain scorched its Ethereum liquidity providers.

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Janet Yellen to Assemble Regulators Over Stablecoin Concerns

Biden’s Treasury Secretary will convene a meeting of the President’s Working Group on Financial Markets next week.

Decrypto - 16th Jul 20:07 - Markets, Regulation, Treasury, The, Working Group, Treasury Secretary, Financial Markets, Janet Yellen, Yellen, JANET YELLEN

US financial agencies will meet to discuss the future impact of stablecoins

They intend to discuss the regulation of stablecoins, as well as the technology's potential benefits and risks. US Secretary of the Treasury Janet L.

Coin Telegraph - 16th Jul 19:07 - Janet Yellen, Regulation, Treasury, Us, The, The Future, Future

Thorchain’s RUNE Token Slides 15% Following Multi-Million Dollar Exploit

Decentralized finance protocol Thorchain will use its treasury funds to reimburse the Ethereum liquidity providers affected by the recent hack.

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Former US Treasury Secretary Mnuchin Says His View on Bitcoin ‘Has Evolved’

Former US Treasury Secretary Steven Mnuchin says his viewpoint on bitcoin “has evolved a little bit.” While he personally does not want to have bitcoin in his portfolio, he says if people want to buy the cryptocurrency, “that’s perfectly fine.” Mnuchin Says It’s ‘Perfectly Fine’ if People Want To Buy Bitcoin Former Treasury Secretary Steven […]

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‘It’s fine’ to buy Bitcoin as gold substitute, says Trump ex-Treasury Secretary Mnuchin

What seems to be a full reversal on a previously hostile Bitcoin stance is tempered by Mnuchin, who added that he still wouldn’t buy BTC himself. Bitcoin (BTC) may be a “scam” for former United States President Donald Trump, but the former Treasury Secretary appears to have made a U-turn on the world’s first and best-known cryptocurrency.Speaking to CNBC on Wednesday, Steven Mnuchin confirmed that his perspective on Bitcoin had “evolved.”Mnuchin: Bitcoin stance has “evolved a little”The Trump administration was known for its dismissive tone on Bitcoin in public, and those hoping for endorsement from Trump were ultimately left disappointed.Mnuchin himself was less than inclined to offer support during his Treasury tenure, but his most recent comments reveal a clear softening of his stance.“I think my view has evolved a little bit, but it is pretty consistent,” he told the network.“The first part of it is I think the underlying technology of blockchain is really incredible and has lots of different things, particularly in fintech and finance.

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Mnuchin: If People Want to Buy Bitcoin – It’s Fine, but it Should be Regulated

The former US Treasury Secretary remains accepting of its use, so long as it is under regulatory oversight.

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'DeFi Education Fund' defends controversial $10.2M UNI liquidation

The DeFi Education Fund has defended its shock liquidation of $10 million in UNI, claiming the move was necessary to “begin its work and fund future operations.” The DeFi Education Fund (DEF), an organization funded by Uniswap to spearhead lobbying and educational initiatives in support of the decentralized finance sector, has defended its sudden move to liquidate half of its UNI treasury earlier this week.The organization said it needed to convert the funds into stable assets to weather crypto market volatility.In May, the DEF was conceived in a Uniswap governance proposal from the Harvard Law Blockchain and Fintech Initiative, with the entity being formed earlier this month after the vote passed with a treasury of 1 million UNI tokens, worth more than $18 million at current prices.

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Operator of Stablecoin With 3,400% Circulation Growth in 2021 To Go Public – Here’s When

The creator of a widely-used stablecoin is planning on going public after seeing massive 3,400% growth in coin circulation. Circle is a global financial technology firm that provides payments and treasury infrastructure for internet businesses.

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Circle reveals plans to go public with $4.5B valuation

Circle, the global financial technology firm that provides payments and treasury infrastructure for digital businesses, is in the news today after it announced its intentions of going public.

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Allied Payment Network Embeds Bitcoin Service, Will Hold BTC in Corporate Treasury

Payment service provider Allied Payment Network has partnered with New York Digital Investment Group, the bitcoin subsidiary of $10 billion asset manager Stone Ridge.

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$Bitcoin fractal setup from 2019 hints BTC price can rebound back to $50K$

Bitcoin fractal setup from 2019 hints BTC price can rebound back to $50K

The ongoing Bitcoin downside correction is strikingly similar to its price action in June-December 2019. Bitcoin (BTC) faces the prospects of reaching $47,500-$50,000 based on its current trend's eerie similarity with the one in June through December 2019.2019 Bitcoin fractalIn detail, Bitcoin topped out around $14,000 on June 26, 2019, before turning lower for the remainder of the year on profit-taking sentiment, and as well as FUD sparked by the Bitcoin Cash hardfork, Facebook's stand-off with regulators over its crypto project Libra, and then US President Donald Trump and Treasury Secretary Steven Mnuchin's threatening tone on Bitcoin.The flagship cryptocurrency crashed to near $6,500 in December 2019.

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UK Chancellor Rishi Sunak Proposes Crypto Adoption and CBDCs as Priority for Treasury Reform

The Chancellor of the Exchequer Rishi Sunak has listed crypto adoption and CBDCs amongst the Treasury's focus demanding reforms in the future.

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UK chancellor names CBDC on list of financial reforms for Treasury

“While I believe in the power of new technology, we also need to manage its impact on our economy and society,” said Rishi Sunak.

Coin Telegraph - 1st Jul 17:07 - Regulation, Bank Of England, Treasury, Uk, Power, The, List

Compound Launches Treasury to Introduce Institutions to Defi

Compound, one of the leading defi-based protocols, is launching a new service called Treasury.

Bitcoin.com - 30th Jun 09:06 - Institutions, Metamask, Treasury, Defi, The, Launches, Protocols

Here's what the Fed vice chair had to say about Bitcoin, CBDCs and parachute pants

The Fed and Treasury have established their skepticism when it comes to cryptocurrencies and other digital assets.

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‘Anti-Money Laundering Is My Crypto Priority’: US Treasury Nominee

Brian Nelson said that implementing legislation targeting crypto money laundering would be his priority if confirmed to the US Treasury.

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Goldman Sachs reportedly started trading on JPMorgan’s repo blockchain

Goldman Sachs reportedly traded digitized treasury bonds for JPM Coin on JPMorgan Chase's Onyx blockchain platform. After six months of eyeing JPMorgan Chase’s custom blockchain service for repo markets, Goldman Sachs has started trading on the platform. Mathew McDermott, global head of digital assets for Goldman Sachs’ global markets division, confirmed the first transaction dated June 17 in an interview, Bloomberg reported.

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New Investments, Miner Migration, US Treasury Nominee on Crypto + More News

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news. _____ Investments news Investment firm VanEck filed a new draft prospectus for a bitcoin (BTC) futures mutual fund with the US Securities and Exchange Commission (SEC).

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Biden nominee for Treasury Dept will prioritize crypto regulation

"If I am confirmed, I will prioritize implementing that piece of legislation, including new regulations around cryptocurrency," said Brian Nelson. Brian Nelson, US President Joe Biden’s nominee for under secretary for the Department of the Treasury’s division on terrorism and financial crimes, said he would prioritize implementing new regulations around cryptocurrency.In a Tuesday hearing of the Senate Committee on Banking, Housing, and Urban Affairs, Nelson said he would be focusing on anti-money laundering regulations if he were to be confirmed for the position in the Treasury Department’s terrorism and financial intelligence arm, adding cryptocurrency would be particular priority.

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Polywhale Finance founders accused of rug pull amid abrupt shut down

The founders of the DeFi yield farm have allegedly redeemed over $1 million worth of tokens as the Treasury wallet was drained Monday.

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Stablecoin inflows to exchanges dip as traders watch Bitcoin from the sidelines

Stablecoin inflows to exchanges tapered off as investors turned bearish on Bitcoin, but a surge in USDC minting could be a signal of upcoming regulation. The growth of stablecoin's market cap and circulating supply has been one of the best indicators for attaining a general pulse on how participants in the market are feeling during bullish and bearish times.Monitoring the Tether (USDT) treasury for large issuances was a common tactic used by analysts and traders to position themselves for a possible pump in the price of Bitcoin (BTC) and altcoins and previously this has been a good source of alpha for those willing to take a risk.

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MicroStrategy expands company's Bitcoin holdings with $489M purchase

MicroStrategy has announced an additional Bitcoin purchase to the tune of $489 million. MicroStrategy has bought even more Bitcoin (BTC) despite the current price struggles for the largest crypto by market capitalization.According to an announcement on Monday, the business intelligence firm purchase 13,005 BTC at an average price of $37,617 for a combined total of about $489 million.Monday's report takes MicroStrategy's Bitcoin balance sheet north of the 100,000 mark with the firm now holding 105,085 BTC.At the current BTC spot price, MicroStrategy's Bitcoin holdings are worth $2.74 billion which amounts to an average of a little over $26,000 per Bitcoin.Earlier in June, the firm had announced a $400 million debt raise to expand its Bitcoin treasury holdings.

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MicroStrategy May Sell $1 Billion in Stock to Buy More Bitcoin

The cloud software firm already has most of its treasury holdings in the alternative asset.

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US Senator Urges Treasury Secretary to ‘Make Significant Revisions’ to FinCEN’s Crypto Proposal

US Senator Pat Toomey has urged Treasury Secretary Janet Yellen to “make significant revisions” to the proposed crypto regulation by the Financial Crimes Enforcement Network (FinCEN) and the planned adoption of the guidance issued by the Financial Action Task Force (FATF).

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Square Launches $5M Bitcoin Fund to Promote Crypto Inclusion

The new Bitcoin Endowment is intended to promote crypto education, and is funded by interest from Square's corporate treasury.

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Rogue states dodge economic sanctions, but is crypto in the wrong?

When the United States first began going after crypto companies for violating its economic sanctions rules, it didnt exactly start with a bang.In December, the Treasury Departments Office of Foreign Assets Control (OFAC) announced a settlement with crypto wallet provider BitGo after the Palo Alto firm failed to prevent persons apparently located in the Crimea region, Iran, Sudan, Cuba and Syria from using its non-custodial secure digital wallet management service.

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Former SEC head and treasury undersecretary defend US crypto regulations

Former top policymakers Jay Clayton and Brent McIntosh has defended the crypto regulatory regimes established during their respective government tenures. The regulatory pressure is mounting in the US, with more politicians questioning whether the current framework is adequate.An opinion piece penned for Wall Street Journal by former SEC Chairman, Jay Clayton, and former Undersecretary of the Treasury, Brent McIntosh, have defended the United States’ existing regulatory apparatus regarding crypto and warned that excessive rulemaking could stifle innovation.The discussions come as cryptocurrencies have been thrown into the regulatory spotlight once again in the wake of two crippling ransomware attacks in the US Over the weekend, two senators deliberated on the prospect of banning cryptocurrencies as a solution to the ransomware attacks.Clayton served as SEC head from May 2017 until December 2020 and stated that the agency did not take up Bitcoin regulation because the asset was declared not to be a security before he took up his position as its head.

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Price analysis 6/7: BTC, ETH, BNB, ADA, DOGE, XRP, DOT, UNI, ICP, BCH

Bitcoin and altcoins are likely to remain under pressure for a few days but lower levels could attract buying. United States Treasury Secretary Janet Yellen defended President Joe Biden’s latest massive spending package while speaking to Bloomberg.

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Microstrategy Selling $400M Bonds to Buy Bitcoin — Holding to Exceed 100,000 BTC

Microstrategy will soon hold more than 100,000 bitcoins in its treasury.

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Biden’s Crypto Tax Evasion Crackdown Could Also Hit Non-US Traders

Joe Biden. Source: A screenshot, Instagram/joebiden The American President Joe Biden appears ready to go to war with tax evaders, particularly those seeking to make use of crypto – and has put forward a plan that could hit crypto traders outside the United States, as well as domestic users. In a set of Treasury proposals released last week, the department called “tax evasion using

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US Senator Urges Treasury Secretary Yellen to Take Action on Cryptocurrency Scams to Protect Investors

US Senator Rick Scott has urged Treasury Secretary Janet Yellen to take action on cryptocurrency scams, which he said have risen 1,000% in the past year and cost consumers at least $80 million.

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New Crypto Trading Restrictions Good for Hong Kong, Government Official Says

Hong Kong's Treasury Secretary - Christopher Hui - found benefits for the city from the proposed restrictions by the FSTB.

Crypto Potato - 29th May 08:05 - BTCEUR, BTCGBP, Bitcoin, Treasury, Crypto Trading, The, CRYPTO TRADING, Treasury Secretary, HONG KONG, Restrictions

Restricting crypto trading to millionaires good for Hong Kong, says official

Hong Kong’s Treasury Secretary says the government is right to pursue restrictive crypto regulations in the city. Christopher Hui, Hong Kong’s Secretary for Financial Services and the Treasury has defended the recent proposal by the city’s Financial Services and the Treasury Bureau to ban retail crypto trading.In a speech delivered at StartmeupHK virtual fintech summit on Thursday, Hui said that the proposal was in line with the government’s plan to properly police the emerging crypto market.As previously reported by Cointelegraph, the FSTB issued a proposal after months of consultation, calling for a ban on retail crypto trading and the establishment of a strict regulatory regime for cryptocurrency exchanges.As part of the proposal set to be presented before the city’s legislature, the FSTB argued for a minimum investment threshold for crypto trading at about $1 million.

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Biden Administration Looking to Increase Cryptocurrency Oversight to Protect Investors, Prevent Illicit Transactions

The Biden administration is reportedly looking to increase oversight of the crypto market with the aim to protect investors and prevent illicit transactions.

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Bank of England Governor Bailey Says Cryptocurrencies Are ‘Dangerous’

Known for his reluctant stance on decentralized money, the Governor of Bank of England (BOA), Andrew Bailey, has recently taken his anti-crypto rhetoric up a notch.

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Former US Treasury Secretary Larry Summers Says Cryptocurrency Is Here to Stay as Digital Gold

Former US treasury secretary and chief economist at the World Bank, Larry Summers, says cryptocurrency is here to stay as a kind of digital gold.

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Rich Dad Poor Dad’s Robert Kiyosaki Urges Crypto Investors to Buy the Dip, Says ‘Stop Whining and Take Action’

Robert Kiyosaki, the best-selling author of “Rich Dad Poor Dad,” says now that bitcoin is “crashing,” it is a buying opportunity, especially for those who said that they could not afford it before.

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US Treasury Requests Report to IRS for Crypto Transfers Over $10,000

The US Treasury Department today proposed to the US Internal Revenue Service that investors need to report on crypto transactions of more than $10,000.

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US Investors Will Have to Report Cryptocurrency Transactions Over $10K to the IRS

The United States Treasury has called for stricter cryptocurrency compliance measures with the IRS, claiming that there is a significant tax evasion risk in the space.

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US Treasury Details Major Push to Regulate Bitcoin and Cryptocurrency

The US Treasury Department is detailing a set of new tax compliance measures designed to bring in billions in new revenue – and crypto investors are a key target.

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US Treasury Calls For IRS Reporting Of $10K+ Crypto Transfers

Continued political buzz is abundant lately around crypto, and today is no exception.

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US Treasury Unveils Biden’s Proposed Tax Measures — Cryptocurrency Transfers Over $10,000 to Be Reported to IRS

The US Department of the Treasury has announced measures to crack down on tax evasion involving cryptocurrencies as part of President Joe Biden’s proposed tax compliance measures.

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USD 10K+ Crypto Transfers & IRS, Central Banks on Crypto Volatility + More News

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news. ____ Tax news The US Treasury said the Biden administration’s proposal to strengthen tax compliance includes a requirement for transfers of at least USD 10,000 of crypto to be reported to the Internal Revenue Service,

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Buy the Dip: Microstrategy Grabs $15 Million More Bitcoin — Now Holds 91,850 BTC in Treasury

Nasdaq-listed Microstrategy has bought the dip and purchased $15 million more bitcoins, taking advantage of the falling price for the cryptocurrency after Tesla CEO Elon Musk revealed that his company has suspended accepting bitcoin for payment.

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Diem parters with Silvergate bank to launch stablecoin in the US

Facebook-initiated Diem Association announces a new model of its upcoming stablecoin that is set to be issued by California state-chartered bank Silvergate. Facebook-backed digital currency project, the Diem Association, has partnered with cryptocurrency-friendly bank Silvergate to launch a stablecoin pegged to the United States dollar.Diem announced Wednesday a new model of its upcoming stablecoin, relocating its main operations from Switzerland to the United States and withdrawing its application for a payment system license from the Swiss Financial Markets Authority.The association, which comprises of 26 financial firms including Nasdaq-listed cryptocurrency exchange Coinbase, is now planning to move forward with its USD stablecoin plans through Silvergate bank, which is set to be the issuer of the Diem USD and will manage the Diem USD reserve.Diem Networks US, Diem’s wholly-owned subsidiary, will run the Diem Payment Network, a permissioned blockchain-based payment system facilitating Diem stablecoin transactions.While Silvergate is a California state-chartered bank and a member of the Federal Reserve, Diem Networks US is seeking to register as a money services business with the US Department of the Treasury's Financial Crimes Enforcement Network, the announcement notes.“We believe in the future of US dollar backed stablecoins and their potential to transform existing payment systems,” Silvergate CEO Alan Lane said.

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Data analytics giant Palantir now accepts Bitcoin payments

The firm added Bitcoin was "definitely on the table" as consideration for a treasury reserve asset. The $30 billion Colorado-based data analytics company founded by billionaire Peter Thiel now accepts Bitcoin from clients as a form of payment. According to a CNBC report today, Palantir said during its earnings call for the first quarter of 2021 that it had begun accepting Bitcoin (BTC) payments.

Coin Telegraph - 11th May 15:05 - Bitcoin, Peter Thiel, Bitcoin (BTC), Bitcoin Payments, Treasury, Earnings, Colorado, Earnings Call, Analytics, CNBC, Reserve, Billionaire, The, Cnbc, 2021, $30 Billion, TREASURY RESERVE, BITCOIN PAYMENTS, PETER THIEL

Yellen Selects Fed Associate Director Michael Hsu to Succeed Brian Brooks at OCC

US Treasury Secretary Janet Yellen announced her intention to nominate Fed Associate Director Michael Hsu to take charge as the new acting Comptroller of Currency.

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Turkish government to track crypto transactions over $1,200

Turkey’s Minister of Treasury and Finance sheds light on regulatory actions following an alleged $150-million crypto exchange scam.

Coin Telegraph - 7th May 10:05 - Regulation, Crypto Exchange, Hacks, Exchange, Treasury, Crypto Transactions, Crypto Exchange Scam, Light, CRYPTO EXCHANGE, Minister, Turkish Government

E-Commerce Giant Mercadolibre Buys Bitcoins Worth $7.8 Million for Treasury

Mercadolibre Inc., Latin America’s leading e-commerce company with almost 70 million users on its marketplace, has bought bitcoins worth almost $8 million for its treasury.

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Largest Latin American eCommerce platform adds $7.8M Bitcoin to its treasury

The purchase makes the eCommerce platform the 36th publicly traded company to add Bitcoin to its balance sheet. Mercado Libre, the largest e-commerce platform in Latin America, has announced to the US Securities and Exchange Commission (SEC) that it acquired $7.8 million in Bitcoin in the first quarter of 2021.

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Treasury Secretary Yellen Says US Does Not Have Framework ‘up to the Task’ of Regulating Cryptocurrencies

US Treasury Secretary Janet Yellen says that the US does not have an “adequate framework” to deal with all the different issues posed by cryptocurrencies, such as money laundering and illicit financing.

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