Emerging Tech
Treasury Looks for New Tech to Prove Physical Money is Legit
The counterfeit detection methods could include both device assisted and non-device assisted features.
Emerging Tech
FinCEN to Treat Digital Asset Regulation as a 'Key Priority,' Director Says
As digital currencies and assets continue to go unregulated, federal law enforcement is actively engaged in developing guidance to prevent financial crime.
Cybersecurity
Agencies Push Deadline to Comment on Would-Be Federal Cyber Insurance Program
Insurance companies are pushing for taxpayer assistance to provide coverage in the event of catastrophic incidents.
Digital Government
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
Emerging Tech
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.
Policy
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.
Policy
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.
Policy
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.
Emerging Tech
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.
Digital Government
Treasury Fines Crypto Mixer on Money Laundering
The Financial Crimes Enforcement Network imposed over $29 million in fines for Bank Secrecy Act violations.
Emerging Tech
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.
Cybersecurity
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.
Digital Government
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.
Cybersecurity
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.
Cybersecurity
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.
Cybersecurity
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.
Cybersecurity
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.
Cybersecurity
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.
Digital Government
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.
Policy
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.
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