Treasury

IRS Seeks New Enterprise File Storage System

As part of the agency’s ongoing modernization efforts, it issued a request for information for a new enterprise file storage system

Compliance First, Penalty Second as Feds Implement Crypto Regulations

Officials within federal law enforcement described the critical role private sector communication will play in developing digital asset regulatory guidance.

Lawmakers Question Revolving Door Between Government and Crypto Industry

A group of Democratic lawmakers issued letters to several financial regulatory agencies in a bid to examine the growing trend of former public servants working for digital asset companies.

Treasury Debuts Plan to Penalize Foreign Investment Threatening National Security

The guidance from the Committee on Foreign Investment in the United States comes as legislators have been increasingly worried about foreign investment in major technology companies.

U.S. Imposes Semiconductor and Aviation Tech Sanctions on Russia

The sanctions follow international concern over unmanned aerial vehicles tech found amid Russia’s invasion of Ukraine.

Many Digital Assets are ‘Rife With Risks,’ Fed Official Warns

The Federal Reserve underscored the volatility that comes with digital currencies while speaking to the agency’s other modernization efforts.

Treasury Fines Crypto Mixer on Money Laundering

The Financial Crimes Enforcement Network imposed over $29 million in fines for Bank Secrecy Act violations.

Cryptocurrencies 'Could Pose Risks' to Stability of US Economy, Treasury Warns

The Department of Treasury’s Financial Stability Oversight Council delivered research on cryptocurrency regulation recommendations, noting the importance of legislative participation.

Treasury Seeks Comment on How to Structure a Cyber Insurance Program

The Department’s Federal Insurance Office—together with the Cybersecurity and Infrastructure Security Agency—is soliciting feedback in preparation for a report to Congress.

White House Releases Holistic Digital Asset Regulatory Framework

Several agencies contributed to the new framework, as the Biden administration eyes a streamlined approach to regulating and benefitting from the volatile digital asset marketplace.

Whole-of-Government Effort Targets Iranian Hackers

An unsealed indictment from the Department of Justice accompanied  sanctions and an advisory with international allies warning against government-linked Iranian hackers.

U.S. Sanctions Iran—Under New Treasury Rules—for Attack on Albania

The new rules elaborate on what kinds of cyber activities warrant sanctions designation.

High-Tech Financial Crimes Warrant Coordinated Digital Identity Efforts, FinCEN Warns

Leaders at the Financial Crimes Enforcement Network noted that stronger authentication measures are critical and spurred by emerging technologies.

Treasury Reissues Rules to Enforce Cyber Sanctions on Foreign Adversaries  

The rules could apply to any new executive order related to the national security emergency President Obama declared in 2015, in advance of a cybersecurity agreement with China.

U.S. and Israel Strengthen Cybersecurity Partnership

Both countries have pursued a bilateral cybersecurity agreement between their financial agencies since 2021, amid critical infrastructure threats. 

Lawmakers Push IRS on Backlog and Customer Service Problems

The agency says it's aiming to get to a "healthy" backlog level by the end of the year, but in June, the National Taxpayer Advocate said that would be "difficult" for the agency to do.

Banks' Ability to Conduct Cryptocurrency Transactions Comes Under Senators' Fire

Letters issued by the Department of Treasury’s Office of the Comptroller of the Currency allow banks to engage in digital currency transactions that are considered financially sound.