May 19, the Financial Crimes Enforcement Network (FinCEN) awarded several federal agencies in the United States, whose joint probe led to the seizure of $22 million worth of cryptocurrency from the darkenet operators. 12-16% cashout fee This is an annual award whereby FinCEN recognizes law enforcement agencies for using Bank Secrecy Act reporting to successfully pursue and prosecute criminal investigations. The investigation involved Immigration and Customs Enforcement-Homeland Security Investigations, United States Postal Inspection Service, and United States Secret Service: “Investigative results identified dark web vendors sending illicitly earned Bitcoin with a physical receiving address via an encrypted email to conduct …

Multi-millionaire and former hedge fund manager, Mike Novogratz, recently posited government spending around coronavirus efforts may be the cause of recent mainstream and crypto market rallies. "Household Income in the USA could actually be up this year even though we could have 25% unemployment," Novogratz said in a May 6 tweet, adding: "That is unprecedented.Thanks Uncle Sam and Chairman Powell. Helps with social unrest, might explain the retail bid to the stock market, and certainly helps make the BTC case." It is unclear exactly what Novogratz meant in his tweet, and which aspects have impacted market prices. Cointelegraph reached out …

Recent financial statement analysis from the New York Times showed Georgia Senator, Kelly Loeffler, received a hefty sum after she departed her post as Bakkt's CEO. ICE gave Loeffler a reported $9 million in financial assets and "other rewards," the New York Times said in a recent report. According to the numbers, not including her base salary, Loeffler received $12.5 million total last year in rewards and bonuses. “Kelly left millions in equity compensation behind to serve in public office to protect freedom, conservative values and economic opportunity for all Georgians," a spokesperson for Loeffler said in response to Cointelegraph's …

The Federal Deposit Insurance Corporation, or FDIC, recently posted a video urging the public not to rush to banks for cash withdrawals. Does this relate to crypto? “Your money is safe at the banks,” FDIC Chairman Jelena McWilliams said in a video posted on Twitter by the government agency. “The last thing you should be doing is pulling your money out of the banks now, thinking that it’s going to be safer someplace else.” “When I first watched the video, I thought it was from SNL [Saturday Night Live] or The Onion – that’s how ridiculous it is,” Wilshire Phoenix …

Treasury Secretary Steven Mnuchin wasn’t the only one to make waves at the U.S. Senate this week when it came to the future of currency. Tom Cotton, a Republican senator from Arkansas, spoke at length regarding digital currency while addressing the cameras and a nominee for the Federal Reserve Board of Governors, Judy Shelton: “We need the digital currency a little bit less I would argue internally, but rather to help preserve the primacy of the dollar worldwide.” When asked how she would protect the dollar as a reserve currency and what this would mean with a digital dollar, CoinDesk …

After naming Kristina Littman as Chief of the Division of Enforcement’s Cyber Unit in December, the United States Securities and Exchange Commission has introduced more fresh blood to its ranks. On Feb. 13, Nancy Sumption was announced as the successor to Kevin Zerrusen, the former Senior Advisor for Cybersecurity Policy to Chairman Jay Clayton. Nancy Sumption has worked in cybersecurity and privacy in healthcare and finance in addition to her two decades of public service as an officer and staff judge advocate in the U.S. Air Force, the U.S. intelligence community, and the Department of Justice. In an SEC press …

Though the Democratic presidential race in the United States may have lost its most forward-thinking candidate when it comes to cryptocurrency, that doesn’t mean it’s not still a hot button issue across party lines. The number of patents and companies associated with cryptocurrencies and blockchains continues to rise in the US market, making it both an economic and political issue in 2020. The United States Senate held a hearing to go over the 2021 budget on Wednesday. While defending Trump’s $4.8 trillion proposal, Senator Maggie Hassan (D-NH) asked a question regarding cryptocurrency: "How will the Treasury's proposed budget increase in …

The United States' Financial Crimes Enforcement Network (FinCEN) has announced it is working to investigate a string of digital currency businesses, assessing whether they meet financial regulations for the sector. Announcing the bureau's latest activity was director Jennifer Calvery, speaking at the West Coast AML (Anti Money Laundering) Forum in San Francisco May 6. The three-day event is a chance for federal and state regulators to meet with the government's investigative agencies and other qualified consultants. In her opening speech to the forum Calvery gave top billing to her department’s efforts to investigate potential regulatory violations in the virtual currency …