For the first time since the September 11 attacks, the U.S. Department of Treasury is pursuing significant reforms to thwart malevolent parties such as terrorist groups, transnational criminals, and rogue nations. This move is instigated by changes in platforms where these entities conduct their operations requiring more authority and tools, shared Wally Adeyemo, Deputy Secretary of the Treasury at the Blockchain Association's Policy Summit held in 2023.
US Senators have expressed concerns over China's expanding role in the American financial system, citing potential risks to personal identifiable information (PII). Led by Senators Tim Scott and Mike Crapo, a group of lawmakers sent a letter to Treasury Secretary Janet Yellen and United States Trade Representative Katherine Tai, outlining their concerns about the Chinese Communist Party's (CCP) increasing influence in the US financial system and global payments market. (
The Senate Committee on Banking, Housing, and Urban Affairs has passed the Secure And Fair Enforcement Regulation Banking Act (SAFER Banking Act) with a vote of 14-9 on September 27. This bipartisan bill, formally known as S. 2860, aims to offer financial institutions protection when servicing state-sanctioned cannabis businesses and their providers.
Republicans on the House Financial Services Committee have publicly criticized SEC Chair Gary Gensler for what they deem to be a flawed regulatory approach. In a letter led by Committee Chairman Patrick McHenry, they express direct concerns to Gensler. They are troubled by the Commission's reluctance to consider stakeholder feedback and its failure to conduct thorough economic analysis.
Leaders of the House Financial Services Committee have sent a formal letter to Jerome Powell, Chairman of the Federal Reserve Board, voicing their objections against the Fed's recent supervision and regulatory letters concerning the digital asset ecosystem.
The U.S. Department of the Treasury and IRS have unveiled new proposed rules aimed at improving job quality in the clean energy sector. The guidelines, part of the Inflation Reduction Act, offer enhanced tax incentives for companies that meet specific wage and apprenticeship standards.
The U.S. Treasury Department has released an in-depth report asserting the critical role labor unions play in bolstering the American economy and enhancing the well-being of the middle class, according to a department press release.
The U.S. Treasury Department has proposed new regulations on the sale and exchange of digital assets by brokers, aiming to curb tax evasion and clarify tax obligations. The move has sparked debate among industry stakeholders.
The U.S. Securities and Exchange Commission (SEC) announced on Wednesday, August 23, the adoption of new rules and amendments that will strengthen the oversight and regulation of private fund advisers.
On August 8, 2023, Treasury Under Secretary Brian E. Nelson and FinCEN's Acting Director Himamauli Das met with Kentucky leaders to discuss implementing the Corporate Transparency Act and combating fentanyl trafficking.
The U.S. Department of the Treasury's Office of Tribal and Native Affairs recently led a delegation trip to the Pueblos of Laguna and Acoma in New Mexico.
According to a letter sent to the SEC Chair and the President of FINRA, the House Financial Services Committee raised concerns over the approval of Prometheum Ember Capital LLC, questioning the process and highlighting national security issues.
The Climate-related Financial Risk Committee (CFRC) of the Financial Stability Oversight Council (FSOC) reported noteworthy progress in addressing climate-related financial risks, highlighting interagency collaboration and risk assessment efforts.
Secretary of the Treasury Janet L. Yellen commemorated the Inflation Reduction Act's one-year mark, highlighting robust economic gains and the law's pivotal role in advancing climate initiatives.
President Biden's executive order, driven by national security concerns, empowers regulations to thwart foreign entities from accessing U.S. technology pivotal to their military and intelligence ambitions, safeguarding American interests.
The Biden administration recently declared a national emergency to address threats from countries advancing sensitive military technologies, an action praised by congressional leaders for its thoughtful approach to national security and free-market principles.
U.S. Treasury Secretary Janet L. Yellen emphasized support for Ukraine amid the Russian aggression, aligning with a $3.3 billion supplemental funding request for 2024, aimed at security, economic and humanitarian aid.
PayPal, the online payment giant, takes a significant step into the world of digital currencies with the launch of PayPal USD, a U.S. dollar-denominated stablecoin, aiming to enhance digital payment experiences.
In a surprising move, Fitch Ratings downgrades the United States' credit rating from 'AAA' to 'AA+', citing fiscal concerns and governance issues, raising alarm in the financial world.
Treasury Secretary Janet L. Yellen hails significant strides in IRS modernization and inflation reduction under the Inflation Reduction Act, while voicing disagreement with Fitch's recent U.S. credit rating downgrade.