US Treasury Dept sanctions crypto OTC broker Suex for alleged role in facilitating transactions for ransomware attacks

The United States Department of the Treasury has announced it will impose sanctions on the Czech Republic and Russia-based business Suex OTC for allegedly allowing hackers to access cryptocurrency sent as payment for ransomware attacks. In an advisory update issued on Tuesday, the Treasury Department Office of Foreign Assets Control, or OFAC, added Suex OTC… Continue reading US Treasury Dept sanctions crypto OTC broker Suex for alleged role in facilitating transactions for ransomware attacks

Treasury Prepping Stablecoin Clampdown: Report

Key Takeaways Treasury officials have reportedly identified several risks posed by stablecoins. Officials are concerned about the rapid growth of pegged assets and the potential for them to cause financial instability. As stablecoins see increased use, regulators are quickly moving to regulate them. U.S. Treasury officials have reportedly identified several risks posed by stablecoins. The… Continue reading Treasury Prepping Stablecoin Clampdown: Report

U.S. Treasury suspends changes to Fannie Mae, Freddie Mac share agreements

WASHINGTON (Reuters) -The U.S. Treasury Department said on Tuesday it had suspended changes to the government’s stake in housing giants Fannie Mae and Freddie Mac imposed in the final days of the Trump administration.FILE PHOTO: The United States Department of the Treasury is seen in Washington, D.C., U.S., August 30, 2020. REUTERS/Andrew Kelly/File PhotoThose changes… Continue reading U.S. Treasury suspends changes to Fannie Mae, Freddie Mac share agreements

US Treasury says China private equity's Magnachip purchase poses security risks

Fox Business Flash top headlines for August 30 Check out what’s clicking on FoxBusiness.com. SEOUL – The U.S. Treasury Department said the acquisition of Magnachip Semiconductor Corp by a Chinese private equity firm posed "risks to national security," in another hurdle for Chinese companies trying to invest abroad in critical tech industries. Stocks in this… Continue reading US Treasury says China private equity's Magnachip purchase poses security risks

US Treasury says China private equity's Magnachip purchase poses security risks

Fox Business Flash top headlines for August 30 Check out what’s clicking on FoxBusiness.com. SEOUL – The U.S. Treasury Department said the acquisition of Magnachip Semiconductor Corp by a Chinese private equity firm posed "risks to national security," in another hurdle for Chinese companies trying to invest abroad in critical tech industries. Stocks in this… Continue reading US Treasury says China private equity's Magnachip purchase poses security risks

Treasury Dept. wants to ‘capture DeFi’ with infrastructure bill: Jake Chervinsky

The last-minute cryptocurrency provisions added to the U.S. infrastructure bill sought to “capture DeFi,” argues Compound’s general counsel Jake Chervinsky. Appearing on the Bankless State of the Network podcast on August 17, Chervinsky — who is also DeFi Chair of the Blockchain Association — said the industry had been “blindsided” by the infrastructure bill’s crypto… Continue reading Treasury Dept. wants to ‘capture DeFi’ with infrastructure bill: Jake Chervinsky

Sen. Warren urges Treasury Secretary Yellen to combat rising crypto threats

Senator Elizabeth Warren, a Democrat from Massachusetts, has called on United States Treasury Secretary Janet Yellen and other regulators to develop a “comprehensive and coordinated” framework for addressing risks in the cryptocurrency market. In a letter addressed to Yellen, the Democratic senator said the Financial Stability Oversight Council, also known as FSOC, “must act quickly… Continue reading Sen. Warren urges Treasury Secretary Yellen to combat rising crypto threats

Treasury secretary Yellen urges lawmakers to quickly introduce stablecoin guidelines

United States Treasury Secretary Janet Yellen has told financial regulators that the government must act quickly to establish a regulatory framework for stablecoins. The comments came at Monday’s meeting of the President’s Working Group on Financial Markets. The group discussed the rapid growth of stablecoins, revealing plans to issue regulatory recommendations in the coming months,… Continue reading Treasury secretary Yellen urges lawmakers to quickly introduce stablecoin guidelines

Yellen says concerned about housing prices but inflation to calm

FILE PHOTO: U.S. Treasury Secretary Janet Yellen answers questions during the Senate Appropriations Subcommittee hearing to examine the FY22 budget request for the Treasury Department on Capitol Hill in Washington, DC, U.S., June 23, 2021. Greg Nash/Pool via REUTERS/File PhotoWASHINGTON (Reuters) – U.S. Treasury Secretary Janet Yellen expressed concerns about housing affordability on Thursday and… Continue reading Yellen says concerned about housing prices but inflation to calm

U.S. Treasury's Yellen says Congress needs to fund debt relief programs

WASHINGTON (Reuters) -U.S. Treasury Secretary Janet Yellen told lawmakers on Thursday that debt relief for poor and developing countries would be hampered without new funding, while $2.7 billion in current unmet U.S. commitments to the World Bank, International Monetary Fund and other institutions would grow. Yellen, in prepared remarks to a U.S. House of Representatives… Continue reading U.S. Treasury's Yellen says Congress needs to fund debt relief programs

U.S. Treasury says G7 expected to endorse U.S. global minimum tax proposal

WASHINGTON (Reuters) -Finance ministers from the G7 wealthy democracies are expected to endorse Washington’s proposal for an ambitious global corporate minimum tax when they meet in London later this week, a U.S. Treasury official said on Wednesday.FILE PHOTO: A G7 logo is seen on an information sign near the Carbis Bay hotel resort, where an… Continue reading U.S. Treasury says G7 expected to endorse U.S. global minimum tax proposal

Yellen says Biden budget raises U.S. debt-to-GDP ratio but is responsible

FILE PHOTO: U.S. Treasury Secretary Janet Yellen attends an economic briefing with U.S. President Joe Biden in the Roosevelt Room at the White House in Washington, U.S., March 5, 2021. REUTERS/Tom Brenner/File PhotoWASHINGTON (Reuters) – U.S. Treasury Secretary Janet Yellen said on Thursday that President Joe Biden’s fiscal 2022 budget request will increase the U.S.… Continue reading Yellen says Biden budget raises U.S. debt-to-GDP ratio but is responsible

Yellen says U.S. Treasury's budget has not kept up with workload

FILE PHOTO: U.S. Treasury Secretary Janet Yellen speaks as she joins White House Press Secretary Jen Psaki for the daily press briefing at the White House in Washington, U.S. May 7, 2021. REUTERS/Jonathan Ernst/File PhotoWASHINGTON (Reuters) – U.S. Treasury Secretary Janet Yellen said on Thursday that the Treasury’s budget has not kept pace with the expansion… Continue reading Yellen says U.S. Treasury's budget has not kept up with workload

U.S. Treasury domestic finance nominee pledges resilient debt market

FILE PHOTO: The U.S. Treasury building is seen in Washington, September 29, 2008. REUTERS/Jim Bourg/File PhotoWASHINGTON (Reuters) -President Joe Biden’s nominee to head domestic finance operations at the U.S. Treasury Department said on Tuesday it is critical to ensure that the Treasury debt market operates well in times of stress. Nellie Liang, a former Federal… Continue reading U.S. Treasury domestic finance nominee pledges resilient debt market

U.S. Treasury floats global corporate tax of at least 15%

WASHINGTON (Reuters) -The U.S. Treasury Department on Thursday offered to accept a global minimum corporate tax of at least 15% during international negotiations, a rate significantly below its proposed 21% minimum for U.S. multinational firms.Slideshow ( 2 images )The department said the proposal was made during an Organization for Economic Cooperation and Development (OECD) tax… Continue reading U.S. Treasury floats global corporate tax of at least 15%

U.S. Treasury official, bank CEOs discuss boosting 'economic inclusion'

FILE PHOTO: Economist Adewale “Wally” Adeyemo listens to questions during his Senate Finance Committee nomination hearing to be Deputy Secretary of the Treasury in the Dirksen Senate Office Building, in Washington, D.C., U.S., February 23, 2021. Greg Nash/Pool via REUTERSWASHINGTON (Reuters) -A top Treasury Department official met on Tuesday with 20 top bankers to discuss… Continue reading U.S. Treasury official, bank CEOs discuss boosting 'economic inclusion'

Biden tax plan replaces U.S. fossil fuel subsidies with clean energy incentives

WASHINGTON (Reuters) – U.S. Treasury Secretary Janet Yellen on Wednesday released details of a tax hike proposal that would replace subsidies for fossil fuel companies with incentives for production of clean energy in President Joe Biden’s infrastructure plan.FILE PHOTO: U.S. President Joe Biden delivers remarks on the state of the coronavirus disease (COVID-19) vaccinations from… Continue reading Biden tax plan replaces U.S. fossil fuel subsidies with clean energy incentives

Biden tax plan replaces fossil fuel subsidies with incentives for clean energy: U.S. Treasury

FILE PHOTO: U.S. President Joe Biden delivers remarks on the state of the coronavirus disease (COVID-19) vaccinations from the State Dining Room at the White House in Washington, D.C., U.S., April 6, 2021. REUTERS/Kevin LamarqueWASHINGTON (Reuters) – U.S. Treasury Secretary Janet Yellen on Wednesday released a tax hike plan that would replace subsidies for fossil… Continue reading Biden tax plan replaces fossil fuel subsidies with incentives for clean energy: U.S. Treasury

Biden tax plan replaces fossil fuel subsidies with incentives for clean energy: U.S. Treasury

FILE PHOTO: U.S. President Joe Biden delivers remarks on the state of the coronavirus disease (COVID-19) vaccinations from the State Dining Room at the White House in Washington, D.C., U.S., April 6, 2021. REUTERS/Kevin LamarqueWASHINGTON (Reuters) – U.S. Treasury Secretary Janet Yellen on Wednesday released a tax hike plan that would replace subsidies for fossil… Continue reading Biden tax plan replaces fossil fuel subsidies with incentives for clean energy: U.S. Treasury

Biden says 100 million relief checks to be distributed by Wednesday

U.S. President Joe Biden speaks about the mass shooting in Colorado from the State Dining Room at the White House in Washington, U.S., March 23, 2021. REUTERS/Jonathan ErnstCOLUMBUS, Ohio (Reuters) – The Biden administration will have distributed 100 million relief checks by Wednesday as part of a $1.9 trillion coronavirus stimulus package, President Joe Biden… Continue reading Biden says 100 million relief checks to be distributed by Wednesday

Explainer: U.S. Treasury's cash drawdown – and why markets care

LONDON (Reuters) – The U.S. Treasury is due to run down a $1.6 trillion bank account at the Federal Reserve as government spending ramps up in the months ahead – a move some analysts warn may crush short-term money rates further and flood financial markets with cash.FILE PHOTO: A vehicle drives past the U.S. Treasury… Continue reading Explainer: U.S. Treasury's cash drawdown – and why markets care

U.S. Treasury's Yellen vows to boost transatlantic cooperation

WASHINGTON (Reuters) – Treasury Secretary Janet Yellen stressed the importance of cooperation with the European Union in a call with the European Commission’s vice president for the economy, Valdis Dombrovskis, on Tuesday, the U.S. Treasury Department said.FILE PHOTO: Janet Yellen speaks at a news conference in Washington, U.S. December 13, 2017. REUTERS/Jonathan Ernst/File PhotoEarlier on… Continue reading U.S. Treasury's Yellen vows to boost transatlantic cooperation

Exclusive: Yellen to name ex-IMF official Lipton to senior Treasury role, sources say

FILE PHOTO: International Monetary Fund (IMF) Acting Managing Director David Lipton attends a news conference after a meeting at the Chancellery in Berlin, Germany October 1, 2019. REUTERS/Hannibal HanschkeWASHINGTON (Reuters) – David Lipton, an economist who served as a senior official at the International Monetary Fund and U.S. Treasury, will return to government service as… Continue reading Exclusive: Yellen to name ex-IMF official Lipton to senior Treasury role, sources say