Treasury Department

The Treasury Department took action against a Houthi financial network, imposing sanctions on cryptocurrency wallets used by the Iran-backed militant group to fund its war machine. What Happened: According to a Wednesday press release, the Department of the Treasury's Office of...

Five former treasury secretaries are taking aim at the Department of Government Efficiency and Elon Musk for alleged overreach and abuse of powers by the new White House administration. What Happened: Musk has been put in charge of leading the Department of Government Efficiency by President Donald...

U.S. federal authorities are currently examining stablecoin issuer Tether (CRYPTO: USDT) for potential infractions of U.S. sanctions and anti-money-laundering regulations, according to a report. What Happened: This inquiry, conducted by the Manhattan U.S. Attorney's Office, is investigating...

The U.S. Treasury Department announced Friday a fresh wave of sanctions targeting Iran’s petroleum and petrochemical sectors, following Iran's second direct attack on Israel this year. This latest response aims to cut off a critical source of revenue for the Iranian government, a move...

The Federal Reserve addressed a common question about damaged or mutilated currency in a tweet on Wednesday. The tweet advised consumers not to send damaged currency directly to the U.S. central bank. What Happened: The post included a link to a detailed FAQ on the Federal Reserve’s website....

The former chief financial officer of cloud services provider Synchronoss Technologies (NASDAQ:SNCR) allegedly overstated the company’s finances to match revenue expectations it otherwise would have failed to meet. Last week, a New York District Court granted the Securities and Exchange...

A group of 20 Democrats led by Sen. Elizabeth Warren (D-MA) are urging the Treasury Department to revise “out-of-date guidance” related to state-legal marijuana businesses and the Bank Secrecy Act, according to a letter obtained by Punchbowl News. Democrats argue that...

The U.S. Treasury released its quarterly refunding statement Wednesday, letting anxious bond holders catch some breath. The “Treasury currently expects privately-held net marketable borrowing of $776bln in Q1 FY 2024… lower than what was cited at the August refunding, primarily due to...

The Treasury Department's delay in implementing a law designed to catch cryptocurrency tax evaders is raising concerns. What Happened: The law, aimed at closing a loophole that allows cryptocurrency investors to evade taxes, was projected to raise $28 billion over a decade. As a result of the...

The Federal Bureau of Investigation (FBI) raided the Los Angeles residence of Kraken founder Jesse Powell in March, as part of a criminal inquiry focusing on allegations that he hacked and cyberstalked a nonprofit organization. The investigation primarily centers on the accusation made by the...

US Treasury Secretary, Janet Yellen, is set to visit Beijing this week for a meeting with senior Chinese officials, CNBC reports. The Objective of the Visit The Treasury has indicated that Yellen’s visit aims to discuss various macroeconomic and financial issues. The goal is to “...

Dwindling cash reserves were reportedly forcing the Treasury Department to adopt fresh maneuvers almost on a daily basis. However, with the passage of the bill in the Senate, the Treasury can now heave a sigh of relief. The legislation was cleared on Thursday night with 63 votes in favor and 36...

Goldman Sachs Group economists have reportedly estimated that by June 8 or 9, the Treasury Department will see its cash levels drop below the $30 billion mark — a level which is considered as the bare minimum for meeting federal obligations falling due. What Happened: "The estimate is subject to...

The debt ceiling crisis is a short-term worry for many investors as a failure to increase or suspend the borrowing limit is expected to cause chaos across financial markets. However, even if a resolution is reached, the barrage of bond sales by the Treasury Department to meet its obligations in the...

Treasury Secretary Janet Yellen on Monday reiterated her warning in a letter addressed to House Speaker Kevin McCarthy stating that if Congress fails to raise the debt limit, it would cause severe hardships to American families. Yellen stated if the debt crisis isn't resolved it would "harm our...