Latest News
By Federal Newswire | Oct 31, 2024
U.S. Attorney Philip Sellinger said TD Bank’s anti-money laundering (AML) failures" were known at every level of the institution.
By Federal Newswire | Oct 31, 2024
The Blockchain Association, in collaboration with HarrisX, has published findings on the economic impact of the Securities and Exchange Commission's (SEC) "regulation by enforcement" approach to digital assets under Chair Gary Gensler.
By Federal Newswire | Oct 29, 2024
Secretary of State Antony Blinken expressed gratitude for the release of Tigran Gambaryan, head of financial crime compliance at Binance and a former U.S. federal agent, by the Nigerian government.
By Federal Newswire | Oct 28, 2024
The Blockchain Association and the Crypto Council for Innovation have filed a joint amicus brief supporting Beba and the DeFi Education Fund in their legal challenge against the Securities and Exchange Commission (SEC).
By Federal Newswire | Oct 25, 2024
Adjunct Professor Austin Campbell of Columbia Business School has expressed concerns over perceived disparities in the treatment of executives from traditional banks and those in the cryptocurrency industry. In an October 10 post, Campbell said that if an executive from TD Bank does not face jail time for money laundering, it highlights a double standard between these sectors.
By Federal Newswire | Oct 25, 2024
Congressman Rich McCormick expressed his encouragement following the release of Tigran Gambaryan, a Binance employee and his constituent, who had been detained in Nigeria since February. McCormick shared this statement with Federal Newswire on October 23.
By Federal Newswire | Oct 24, 2024
Coinbase Chief Legal Officer Paul Grewal announced that the company has filed two new sets of Freedom of Information Act (FOIA) requests to gain clarity on regulatory agencies' approaches to digital assets. Grewal made this announcement in an October 21 post on X.
By Federal Newswire | Oct 23, 2024
On October 10, Attorney General Merrick Garland, alongside other Department of Justice (DOJ) officials, announced that TD Bank pled guilty to multiple felonies, including conspiracy to violate the Bank Secrecy Act and commit money laundering. The penalties amount to approximately $3 billion in fines, marking the largest penalty in U.S. history under the Bank Secrecy Act.
By Federal Newswire | Oct 23, 2024
On October 23, the Nigerian Economic and Financial Crimes Commission (EFCC) officially withdrew all charges against Binance Holdings executive Tigran Gambaryan, who had been detained since February 2024.
By Federal Newswire | Oct 21, 2024
Tennessee Attorney General Jonathan Skrmetti has called on President Joe Biden to secure the release of former U.S. federal agent Tigran Gambaryan from a Nigerian prison, citing concerns over his deteriorating health. Skrmetti shared this statement in an October 18 post on X.
By Federal Newswire | Oct 21, 2024
Matthew Price, the Strategic Engagement Lead at Elliptic, has called for the U.S. government to take action to secure the release of Tigran Gambaryan, a Binance employee and former colleague of Price at IRS-Criminal Investigations (IRS-CI), from Nigeria. Price expressed his views during an October 3 podcast.
By Federal Newswire | Oct 19, 2024
The Digital Chamber has released a survey titled "Americans’ Views on Crypto Policies," which examines how cryptocurrency regulations could influence voter behavior in the upcoming 2024 elections. Conducted in collaboration with XandY, the survey sheds light on public opinion regarding crypto regulation and its potential impact on voting decisions.
By Federal Newswire | Oct 17, 2024
TD Bank’s U.S. unit has agreed to pay $3.09 billion in penalties and face growth restrictions following charges it failed to effectively monitor money laundering activities linked to drug cartels and Chinese criminal organizations. The settlement exposes flaws in federal anti-money-laundering (AML) systems related to international schemes by networks based in China.
By Federal Newswire | Oct 17, 2024
A report from Social Capital Markets revealed an increase in the fines levied by the U.S. Securities and Exchange Commission (SEC) against the crypto currency industry. According to the report, SEC fines increased from $150.26 million in 2023 to $4.68 billion in 2024, marking a 3018% rise in penalties.
By Federal Newswire | Oct 17, 2024
Richard Weber, a former chief of IRS Criminal Investigations (IRS-CI), has called for the U.S. government to intensify efforts to secure the release of Binance employee Tigran Gambaryan from a Nigerian prison. Weber made his remarks during an October 3 podcast.
By Federal Newswire | Oct 16, 2024
On October 11th, the U.S. Securities and Exchange Commission (SEC) announced an extension of its decision-making process regarding the Cboe Exchange, Inc.'s proposal to list and trade options on exchange-traded products (ETPs) tied to Ethereum, citing the need for additional time to evaluate the proposal's implications.
By Federal Newswire reports | Oct 16, 2024
U.S. Sen. Bill Hagerty (R-Tenn.), a member of the Senate Banking Committee, has released a discussion draft for legislation aimed at creating a regulatory framework for stablecoin issuers. This move seeks to clarify regulations that have been seen as obstacles to the growth of stablecoins.
By Federal Newswire | Oct 15, 2024
The James W. Foley Legacy Foundation has reported that Nigerian authorities have denied bail to Binance employee Tigran Gambaryan, who is being held as a means to exert control over the cryptocurrency exchange. The foundation shared this information in an October 11 post on X.
By Federal Newswire | Oct 10, 2024
Josh Jarrett has initiated a lawsuit against the Internal Revenue Service (IRS) over its policy of taxing cryptocurrency block rewards as income upon their creation. The IRS's stance has been criticized by Coin Center, which is assisting Jarrett in this legal battle, as it advocates for tax parity for block rewards.
By Federal Newswire | Oct 10, 2024
The Blockchain Association has issued a statement in response to the recent actions taken by the Securities and Exchange Commission (SEC) against Cumberland. The statement, attributed to Blockchain Association CEO Kristin Smith, criticizes the SEC's approach under Chair Gary Gensler.