Fifth Circuit Rules Tornado Cash Sanctions Exceeded US Treasury’s Authority

January 22, 2025 Bitcoin.com

bitcoin.com

A federal appeals court in Texas has overturned sanctions levied against Tornado Cash, a cryptocurrency mixing platform, determining that the Treasury Department acted beyond its lawful authority. Court Rebukes Treasury Department Overreach in Tornado Cash Case On Jan. 21, 2025, the Fifth Circuit Court of Appeals delivered its ruling, responding to a lawsuit filed by […]

Bitcoin Price Analysis: Traders Brace for Explosive Move — Here’s the K Line in the Sand

Bitcoin Price Analysis: Traders Brace for Explosive Move — Here’s the $96K Line in the Sand

US Treasury and UAE target North Korean digital asset launderers

December 18, 2024 Coin Telegraph

Coin Telegraph

Two Chinese citizens and a UAE trading company have been sanctioned by the United States for their alleged roles in money laundering for North Korea.

The United States Treasury Department’s Office of Foreign Assets Control (OFAC) has worked closely with the government of the United Arab Emirates to impose sanctions on actors it accuses of enabling North Korean digital asset laundering.

OFAC has sanctioned two Chinese citizens — Lu Huaying and Zhang Jian — and UAE-based Green Alpine Trading for their alleged parts in cryptocurrency conversion and the laundering of funds that were subsequently sent to the Democratic People’s Republic of Korea.

Acting Treasury Under Secretary for Terrorism and Financial Intelligence Bradley T. Smith said in a statement:

Bitcoin Price Analysis: Traders Brace for Explosive Move — Here’s the $96K Line in the Sand

US Treasury Acknowledges Bitcoin as ‘Digital Gold’ in Fiscal Report

December 7, 2024 Bitcoin.com

Bitcoin

The U.S. Treasury’s Fiscal Year 2024 Q4 Report describes how “digital assets have witnessed rapid growth albeit from a small base,” highlighting bitcoin’s “primary” function as a “store-of-value.” Treasury’s Bitcoin Remarks Ignite Conversations Among Enthusiasts On Saturday, enthusiasts on X buzzed over the Treasury’s comparison of bitcoin to “digital gold.” The report, crafted by the […]

Bitcoin Price Analysis: Traders Brace for Explosive Move — Here’s the $96K Line in the Sand

US Treasury Takes Action Against Five Individuals Who Allegedly Used USDT To Evade Sanctions for Russian Elites

December 6, 2024 The Daily Hodl

Daily Hodl

The U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) is holding accountable five individuals linked to a money laundering network that enabled Russian elites to circumvent international sanctions. In a statement, the Treasury Department says it is imposing sanctions on those associated with the TGR Group, which uses digital assets, including the US dollar-pegged […]

The post US Treasury Takes Action Against Five Individuals Who Allegedly Used USDT To Evade Sanctions for Russian Elites appeared first on The Daily Hodl.

Bitcoin Price Analysis: Traders Brace for Explosive Move — Here’s the $96K Line in the Sand

Death of Meta’s stablecoin project was ‘100% a political kill’ — Ex Diem boss

December 2, 2024 Coin Telegraph

Coin Telegraph

United States Treasury Secretary Janet Yellen supposedly convinced Federal Reserve Chair Jerome Powell into killing the project, the former Meta executive said.

The former head of Meta’s (then Facebook’s) blockchain payments solution, Diem, has revealed the project ended after insurmountable political pressure from United States regulators.

“There was no legal or regulatory angle left for the government or regulators to kill the project. It was 100% a political kill—one that was executed through intimidation of captive banking institutions,” Diem co-creator David Marcus said in a Nov. 30 X post.

Meta’s Diem (formerly known as Libra) aimed to develop a decentralized payments network with a US dollar-integrated stablecoin when it launched in June 2019. It received support from the likes of Visa and PayPal — where Marcus previously served as President.

Bitcoin Price Analysis: Traders Brace for Explosive Move — Here’s the $96K Line in the Sand

Bitcoin reserve won’t solve US debt crisis: Think tank co-founder

November 21, 2024 Coin Telegraph

Avik Roy

Avik Roy, the president of a nonprofit think tank, said Senator Cynthia Lummis’ idea that Bitcoin could eliminate federal debt is an “overselling” of what Bitcoin can do.

United States Senator Cynthia Lummis’ plan to set up a strategic Bitcoin reserve won’t be enough to solve the country’s debt crisis, which has now swelled to $35 trillion, the president of the nonprofit think tank says.

“When Senator Cynthia Lummis of Wyoming talks about how a Bitcoin reserve could help us eliminate the federal debt, that’s an overselling of what Bitcoin could do,” Avik Roy, president of the Foundation for Research on Equal Opportunity said on stage at the North American Blockchain Summit 2024 in Dallas, Texas on Nov. 20.

A scenario where the US buys an “enormous” amount of Bitcoin (BTC) that appreciates could help, Roy said, but it won’t catch the $35.46 trillion debt that has been rising nearly exponentially since the 1980s.

Bitcoin Price Analysis: Traders Brace for Explosive Move — Here’s the $96K Line in the Sand

‘Crypto Dad’ squashes rumors that he could replace Gensler as SEC Chair

November 15, 2024 Coin Telegraph

Blockfi

Former CFTC Acting Chair Chris Giancarlo said he’s “already cleaned up earlier Gary Gensler mess,” shooting down speculation he’d replace the SEC Chair.

Chris Giancarlo, the former Commodity Futures Trading Commission Chair, has squashed rumors that he’s in the mix to take over Gary Gensler as head of the Securities and Exchange Commission.

“I’ve made clear that I’ve already cleaned up earlier Gary Gensler mess [at the CFTC] and don’t want to have [to] do it again,” Giancarlo, widely known as “Crypto Dad,” said in a Nov. 14 X post.

Giancarlo was a CFTC commissioner between June 2014 and April 2019, joining a few months after Gensler left his over four-and-a-half-year tenure as chair of the agency in January 2014. Giancarlo was later appointed as the CFTC’s Acting Chair from January to August 2017.

Bitcoin Price Analysis: Traders Brace for Explosive Move — Here’s the $96K Line in the Sand

Cantor Fitzgerald CEO Howard Lutnick vying for Treasury Secretary post

November 14, 2024 Coin Telegraph

Cantor Fitzgerald

Lutnick has become increasingly visible to the crypto community due to his relationship with Tether and his appearance at Bitcoin 2024.

President-Elect Donald Trump is selecting cabinet members for his upcoming administration in 2025, and the role of Treasury Secretary is now reportedly contested between Scott Bessent and Cantor Fitzgerald CEO Howard Lutnick.

According to Fox Business reporter Eleanor Terrett, Bessent was "All but certain" to secure the position as recently as Tuesday, November 13. The pro-crypto asset manager was the most likely pick for United States Treasury Secretary alongside hedge fund manager John Paulson.

However, Paulson bowed out of the cabinet selection due to what he described as "complex financial obligations," and Lutnick has allegedly rushed in to clench the Treasury Secretary role, sources close to the process say.

Bitcoin Price Analysis: Traders Brace for Explosive Move — Here’s the $96K Line in the Sand

Crypto’s Unseen Impact on Treasury Demand: How Tokenization Might Redefine Market Hedging

November 1, 2024 Bitcoin.com

bitcoin.com

The U.S. Treasury’s report shows tokenized assets could drive significant demand for Treasuries, especially during crypto downturns. As Digital Assets Grow, Treasury Demand Finds Strength in Tokenized Safe Havens The U.S. Treasury Department released its Q4 2024 Treasury Borrowing Advisory Committee (TBAC) Quarterly Report on Wednesday, examining how digital assets, including bitcoin and tokenization, are […]

Bitcoin Price Analysis: Traders Brace for Explosive Move — Here’s the $96K Line in the Sand

Unexpected Moment: Treasury Sign Falls as Yellen Confronts US Dollar Reserve Currency Concerns

October 29, 2024 Bitcoin.com

bitcoin.com

The Treasury Department sign fell sharply as Treasury Secretary Janet Yellen faced a tough question about the U.S. dollar’s reserve currency status being at risk. Treasury Sign Drops — Yellen Steadies Herself and Defends US Dollar’s Reserve Currency Status U.S. Treasury Secretary Janet Yellen discussed key elements of the U.S. economic strategy last week at […]

US Treasury

Share this video