United States Financial News

21.09 / 17:07

Government Technology Law Tornado Cash is the latest chapter in the war against encryption

The sanctions imposed by the United States government on Tornado Cash have reignited a public debate on privacy. For many in the relatively young crypto community, such an intervention by the federal government seems groundbreaking. However, tussles between the private sector and the state on the issue of privacy are far from new and can provide compelling insights on what we might expect next for privacy in the crypto industry.

21.09 / 05:41

Law Stablecoin bills Stablecoin Bill Draft US stablecoin bill would ban new algo stablecoins for 2 years

Draft legislation in the United States House of Representatives would place a two-year ban on new algorithmic stablecoins such as TerraClassicUSD (USTC) which de-pegged from the US dollar earlier this year causing widespread crypto market contagion.

20.09 / 22:49

Government regulation sanctions Mixers Crypto mixers US Treasury official says crypto mixers are a 'concern' in enforcing sanctions

Elizabeth Rosenberg, the assistant secretary for terrorist financing and financial crimes at the United States Department of the Treasury, suggested sanctioning cryptocurrency mixers could help strengthen the government’s response to foreign entities looking to use digital assets for illicit means.

20.09 / 15:19

Ethereum Stablecoin Bitcoin Bitcoin still dominates total payments on BitPay despite the bear market

The cryptocurrency bear market has had an impact on how people pay with crypto, but Bitcoin (BTC) remains a major payment tool despite huge volatility, according to data from BitPay.

20.09 / 12:49

Adoption Congress Congress demands crypto payments notification from DOS when helping Ukraine

A new bill demanding a congressional notification prior to payments of the United States Department of State (DOS) rewards using cryptocurrencies surfaced as the U.S. Congress raised concerns about the evasion of sanctions.

19.09 / 22:37

CBDC regulation crypto framework Framework White House’s first crypto framework and missed opportunities — Law Decoded, Sept. 12-19

By the end of last week, the federal agencies presented the results of their six-month-long work on the principal directions for digital assets regulation in the United States. The resulting first-ever crypto framework, published on the White House website, may not contain many surprises or exact details, but, as a part of President Joe Biden’s executive order, it will undoubtedly affect the policymaking decisions to come.

19.09 / 22:25

CFTC SEC Congress The crypto industry can trust Cynthia Lummis to get regulation right

As the world waits to see America’s take on cryptocurrency regulation, crypto enthusiasts should keep one thing in mind: The industry can trust Senator Cynthia Lummis. Her proposal with Senator Kirsten Gillibrand, which we’ve all been waiting for action on, is bipartisan in nature.

19.09 / 21:57

Government regulation crimes US Treasury plans to ask public if crypto-related regulations are 'no longer fit for purpose'

The United States Department of the Treasury will be calling for comments from the public on digital assets, including their views on how regulations may address illicit uses of crypto.

19.09 / 12:41

Government Federal Reserve Bitcoin Crypto market bloodbath leads to $432M in liquidation

The crypto market turmoil entered the third week of September as most of the cryptocurrencies started the week on a bearish note. The total crypto market cap dipped below $1 trillion again, with several cryptocurrencies recording a double-digit downfall over the past 24 hours.

18.09 / 01:57

Law SEC privacy Coinbase is fighting back as the SEC closes in on Tornado Cash

On Sept. 8, Coinbase announced it was bankrolling a lawsuit against the United States Treasury Department. The cryptocurrency exchange is funding a lawsuit brought by six people that challenges the sanctions on Tornado Cash. And on Sept. 9, Securities and Exchange Commission (SEC) Chair Gary Gensler announced he was working hard with Congress to create legislation to increase cryptocurrency regulations.

17.09 / 08:51

Adoption regulation white house Department White House OSTP department analyzes 18 CBDC design choices for the US

As directed by the President of the United States, Joe Biden, the Office of Science and Technology Policy (OSTP) submitted a report analyzing the design choices for 18 central bank digital currency (CBDC) systems for possible implementation in the US.

16.09 / 20:57

Government regulation white house crypto framework Framework Blockchain Association calls White House's crypto framework a 'missed opportunity'

Members of the crypto space and advocacy groups reacted to United States President Joe Biden’s administration releasing a regulatory framework on digital assets, with many suggesting the White House focused on the potential negative aspects of crypto.

16.09 / 16:01

Adoption CFTC SEC Framework White House publishes ‘first-ever’ comprehensive framework for crypto

Following United States President Joe Biden’s executive order on Ensuring Responsible Development of Digital Assets, federal agencies came up with a joint fact sheet on six principal directions for the crypto regulation in the U.S. It sums up the content of nine separate reports, which have been submitted to the President to “articulate a clear framework for responsible digital asset development and pave the way for further action at home and abroad.”

16.09 / 00:35

regulation sanctions Nazi Crypto Addresses US Treasury sanctions 5 crypto addresses connected to Russian neo-Nazi paramilitary group

The United States Department of the Treasury added five cryptocurrency addresses tied to a neo-Nazi group involved in Russia’s war on Ukraine to list of entities sanctioned by the Office of Foreign Asset Control.

15.09 / 19:55

Blockchain CFTC regulation Energy usage Merge is 'a step in the right direction' to address crypto's energy usage — Rostin Behnam

Rostin Behnam, chair of the United States Commodity Futures Trading Commission, or CFTC, said the Ethereum blockchain’s transition to proof-of-stake may help reduce crypto’s energy usage, but hinted legislation would likely still be needed to address the problem.

15.09 / 17:51

CBDC CFTC regulation Crypto bill needs clarification on 'digital commodity' — Sheila Warren

Sheila Warren, CEO of the Crypto Council for Innovation, said the Digital Commodities Consumer Protection Act currently being considered by U.S. lawmakers was a “pivotal step” towards achieving regulatory clarity, but recommended changes to determine the role authorities will take on digital assets.

14.09 / 20:59

regulation sanctions US Treasury sanctions Iran-based ransomware group and associated Bitcoin addresses

The United States Treasury Department’s Office of Foreign Asset Control has added 10 individuals, 2 entities, and several crypto addresses allegedly tied to an Iranian ransomware group to its list of Specially Designated Nationals, effectively making it illegal for U.S. persons and companies to engage with them.

13.09 / 21:49

regulation sanctions NOT US Treasury clarifies publishing Tornado Cash’s code does not violate sanctions

The United States Department of the Treasury said “interacting” with cryptocurrency mixer Tornado Cash’s open-source code, with certain provisions, would not be in violation of sanctions imposed by the Office of Foreign Assets Control, or OFAC.

13.09 / 00:58

business Banks ABRA Abra announces plans for US bank supporting digital assets

Cryptocurrency trading platform Abra said it was “in the process of” establishing a United States-based state-chartered bank allowing clients to deposit digital assets.

12.09 / 23:27

Adoption SEC Law Decoded, Sept. 5–12: The pressure is growing in the US

While last week brought no troubles from the market side of the crypto industry — no operations frozen, no bankruptcies filed — the United States regulators made some explicitly negative statements.

12.09 / 21:43

regulation SEC Bitcoin Etf Time Chamber of Digital Commerce says 'the time has come' for the SEC to approve a Bitcoin ETF

The crypto advocacy group Chamber of Digital Commerce called on the Securities and Exchange Commission, or SEC, to approve applications for Bitcoin exchange-traded funds (ETFs) in the interests of United States-based investors.

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