Bipartisan Bill Would Give US Treasury Authority Over DeFi

The bill’s sponsors highlighted DeFi and crypto ATMs as vectors for financial crime.

• 2023-07-20
• U.S. Treasury Department decentralized finance bipartisan group compliance rules

Crypto Exchange Poloniex to Pay $7.6 Million to Settle Probe Into Sanctions Violations

The agreement follows a $10 million settlement the trading platform agreed to pay in 2021 as a result of a Securities and Exchange Commission investigation.

• 2023-05-02
• U.S. Treasury Department digital assets OFAC Poloniex

U.S. Treasury Poised to Release View on How DeFi Used in Illicit Finance

The U.S. Treasury Department is close to releasing a risk assessment analyzing criminal use of decentralized finance (DeFi), according to Assistant Secretary for Terrorist Financing and Financial Crimes Elizabeth Rosenberg.

• 2023-03-15
• U.S. Treasury Department Elizabeth Rosenberg risk assessment

U.S. Treasury Department Proposes 30% Excise Tax on Crypto Mining Firms

A provision in the department’s “Greenbook,” its list of tax proposals and explanations for U.S. President Joe Biden’s budget proposal, would create a phased-in excise tax based on the costs of the electricity used in crypto mining, imposed on the companies “using computing resources” to mine cryptocurrencies.

• 2023-03-10
• U.S. Treasury Department budget proposal digital asset excise tax Biden tax rules proposal crypto mining