ChainCatcher news, according to Bloomberg, the United States and the United Kingdom are reviewing over $20 billion in cryptocurrency transactions conducted through a Russian virtual trading platform. Sources say the payments under scrutiny were made using the Moscow-based cryptocurrency exchange Garantex with the dollar-pegged cryptocurrency Tether (USDT).It is reported that the U.S. and the U.K. imposed sanctions on Garantex in April 2022, citing its alleged involvement in money laundering, terrorist financing, and ransomware attacks. This $20 billion transaction would be one of the most serious violations since the sanctions began.

ChainCatcher News: In a speech, U.S. Deputy Treasury Secretary Wally Adeyemo stated that the cryptocurrency industry needs to strengthen its defenses against bad actors, and Congress should provide guidance.

ChainCatcher news, citing sources from Reuters, reported that U.S. government authorities are expected to announce a settlement agreement with Binance on Tuesday, addressing issues related to years of investigation into the world's largest cryptocurrency exchange.According to sources, the agreement will involve charges against individuals and resolve allegations of violations of the Bank Secrecy Act and other U.S. laws, with multiple U.S. agencies involved, including the Department of Justice, the Commodity Futures Trading Commission, and the Financial Crimes Enforcement Network of the Department of the Treasury.

ChainCatcher news, according to Business Insider, as the U.S. presidential election year approaches and Congress continues to scrutinize BlackRock, the company is restructuring a key lobbying team that handles relationships with government officials and regulators. BlackRock's Global Head of Corporate Affairs, John Kelly, recently wrote in a company memo that the asset management giant is looking to hire a new Head of U.S. Government Affairs and Public Policy, as well as a new Head of State Government Affairs. The state-focused position will be responsible for working in "priority capital" to manage state-level relationships. Kelly stated that the company is facing "increasing reputational pressure in the U.S., along with a range of complex policy challenges."He noted that the company must "adjust its strategy and deploy more resources to address these challenges."

ChainCatcher news, the Chief Federal Prosecutor of the Southern District of New York, Damian Williams, stated to a group of reporters outside the courthouse on Thursday evening local time that the conviction of SBF is a "warning" to cryptocurrency wrongdoers, and that federal agents and lawyers are "putting handcuffs on all" fraudsters and scammers.

ChainCatcher News, U.S. Senator and cryptocurrency supporter Cynthia Lummis has called on the U.S. Department of Justice to consider charges against the cryptocurrency exchange Binance following the attacks on Israel by the terrorist organization Hamas.In a letter dated October 26 to U.S. Attorney General Merrick Garland, Lummis and Arkansas Representative French Hill urged Justice Department officials to "make a decision on charges against Binance" and to "swiftly conclude" the investigation into alleged illegal activities involving Tether. The remarks from the two lawmakers came after Hamas launched a coordinated attack on Israel on October 7, which they stated was partly motivated by the belief that illegal crypto transactions "provided significant financing for terrorism."Lummis and Hill stated, "We urge the Department of Justice to carefully assess the extent to which Binance and Tether provide material support and resources for terrorism by violating applicable sanctions laws and the Bank Secrecy Act." "To this end, we strongly support the Department of Justice taking swift action against Binance and Tether to cut off the funding sources currently available to terrorists targeting Israel."

ChainCatcher news, according to Cointelegraph, a new bill in the United States aims to require cryptocurrency service providers to report all blockchain transactions to government repositories.On September 28, U.S. Congressman Don Beyer introduced the "Off-Chain Digital Goods Transaction Reporting Act," which requires trading platforms to report all transactions to repositories registered with the Commodity Futures Trading Commission (CFTC). The new legislation aims to protect cryptocurrency investors from disputes, manipulation, or fraud that may arise from off-chain transactions or transactions occurring outside the blockchain network. Unlike on-chain transactions, off-chain crypto transactions are not immediately recorded on the blockchain but are processed through secondary layers, which creates some difficulties in tracking.The announcement noted that with the emergence of trading platforms and the desire to increase trading speed and reduce costs, thousands of transactions occur "off-chain" and are not recorded on a publicly visible blockchain.

ChainCatcher news, in a blog post on September 6, Coinbase's Vice President of International Business Nana Murugesan and Vice President of International Policy Tom Duff Gordon listed the EU, UK, Canada, Brazil, Singapore, and Australia as Coinbase's "recent priority markets."The two stated that these countries are "establishing clear rules," and Coinbase will focus on "obtaining licenses, registering, establishing, and strengthening operations" in these countries. The article pointed out that cryptocurrency regulation is making progress around the world, while the United States has chosen enforcement regulation, a practice that may limit the U.S.'s influence in the crypto space. Therefore, Coinbase will focus on expanding its business in countries that have already established clear cryptocurrency rules.Coinbase's new priority market plan is part of its second phase expansion strategy "Go Broad, Go Deep," which includes establishing partnerships with global and local banks and payment providers to expand its fiat currency channels while ensuring compliance with its governance system.

ChainCatcher news, Bitcoin News tweeted: The U.S. House of Representatives and Senate have reached a bipartisan agreement on a cryptocurrency bill that will require cryptocurrency exchanges to register with the Commodity Futures Trading Commission (CFTC), creating a new regulatory framework for Bitcoin and the entire industry.

ChainCatcher news, Fox Business reporter Eleanor Terrett stated on her social platform that according to a court document, Ripple case judge Sarah Netburn has requested both Ripple and the SEC to agree on 3 dates for settlement meetings.

ChainCatcher News, U.S. House Financial Services Committee Chairman Patrick McHenry announced two hearings regarding the oversight of the SEC. The Subcommittee on Oversight and Investigations will hold a hearing on June 22 at 21:30 Beijing time, titled "Oversight of the SEC." The Subcommittee on Capital Markets will hold a hearing on June 22 at 22:30 Beijing time, titled "Oversight of the SEC's Trading and Markets Division."The hearings aim to review and discuss the SEC's regulatory work and its oversight responsibilities regarding trading and markets. (Source link)

ChainCatcher News, the White House has released a national standards strategy for critical and emerging technologies, which indicates that the United States will prioritize the development of standards in eight areas, including "digital identity infrastructure and distributed ledger technology." (Source link)

ChainCatcher news, the U.S. Securities and Exchange Commission (SEC) has removed the first official definition of "digital assets" in its latest hedge fund rules. The statement indicates that the SEC is continuing to consider this term and will not include digital assets as part of the rule. (CoinDesk)