US Treasury Wants Regulators to Watch for ‘Potential Risks’ in Digital Asset Innovation
The Treasury Department wants state and federal regulators to keep a vigilant watch on digital asset innovation.
The anti-money laundering watchdog said it is confident the industry will be able to implement the data sharing requirements by June.
The Financial Crimes Enforcement Network wants U.S. persons who hold crypto in offshore accounts to report holdings over $10,000.
The nonprofit said FinCEN's proposed rule "represents a radical extension of ... financial surveillance of innocent Americans."
FinCEN has proposed requiring exchanges to collect and report KYC information on unhosted wallets for transactions up to $10,000.
FinCEN has posted a pair of job listings for crypto policy advisers amid rumors that new regulations around wallets will arrive soon.
The U.S. Treasury Department's Office of Foreign Asset Control has added two individuals and 20 bitcoin addresses to its sanctions list, accusing them of being part of the North Korea-affiliated Lazarus Group.