Treasury Secretary Janet Yellen said the recent collapse of a major cryptocurrency exchange highlights the need for better oversight of crypto markets. CBS News reported Bahamas-based cryptocurrency exchange FTX recently filed for bankruptcy and is now under investigation over possible securities violations. Yellen said in a statement published Wedn...
The Internal Revenue Service has issued a request for information on potential industry sources of information technology services as the IRS plans to launch a procurement effort for the second iteration of the Integrated Enterprise Portal program. The IRS uses the IEP contract to secure application development, operations, hosting and security serv...
The Government Accountability Office has recommended that the Internal Revenue Service and Financial Crimes Enforcement Network reassess their money service business registration requirements for virtual currency exchanges and virtual currency kiosk operators and initiate measures, such as requiring those operators to routinely provide information o...
The Financial Stability Oversight Council has released its annual report recommending that state and federal regulators continue to assess risks posed by new uses of digital assets to the financial system and facilitate coordination to address potential issues related to such assets. FSOC said Friday member agencies should consider the recommendatio...
Six senators have urged Treasury Secretary Janet Yellen to issue informal guidance providing the definition of “broker” of cryptocurrency and other digital assets in a provision of the Infrastructure Investment and Jobs Act. Section 80603 of the law seeks to “provide more certainty for Americans looking to invest in these digital assets, ensur...
The Department of the Treasury’s office of foreign assets control issued guidance in October to promote compliance with sanctions requirements and due diligence best practices in the virtual currency industry. OFAC said technology companies, miners, wallet providers, exchangers, administrators and other operators in the virtual currency industry p...
Robert Steel, former undersecretary for domestic finance at the Department of Treasury, has been elected to serve on the finance and benefit plans committee within Reston, Virginia-based General Dynamics' (NYSE: GD) board of directors....
Isabel Guzman, director of California's Office of the Small Business Advocate, has been nominated by President-elect Joe Biden to serve as head of the Small Business Administration. The Biden transition team also announced the nominations of Rhode Island Gov. Gina Raimondo and Boston Mayor Martin Walsh to lead the departments of Commerce and La...
Less than 20 defense companies have applied for $17B worth of loans under the Coronavirus Aid, Relief and Economic Security Act and Ellen Lord, undersecretary for acquisition and sustainment at the Department of Defense and a 2020 Wash100 awardee, said the Treasury Department is working with DoD as it considers how to expand the eligibility requir...
The Department of the Treasury will require publicly traded defense contractors and other national security firms applying for loans under the Coronavirus Aid, Relief and Economic Security Act to provide “appropriate financial instruments” such as equity stakes and warrants, Reuters reported Friday....
