The Suex Exchange Sanction Scandal Continues to Heat Up

On September 21st, the U.S government took action against Suex, a Russian cryptocurrency broker. According to the announcement, the sanctions on Suex should eliminate criminal-related activities. Furthermore, the directive came from the Treasury’s Office of Foreign Assets Control (OFAC). The War on Illicit Financing According to the Treasury’s announcement, criminal networks use cryptocurrencies and exchanges to launder money. As per the government, such incidents affect the country’s economy. Essentially, Suex’s services combine illegal ransomware transactions with genuine transfers. So, for…

U.S. Treasury Decides on a New Crypto Regulation to Take Effect in 2023

The Treasury Department has made it official that any cryptocurrency transfer worth $10,000 or more will be reported to the Internal Revenue Service.  The step marks the first of many in the crackdown on cryptocurrency markets and transactions. The Treasury Department said that cryptocurrency already presents a significant detection issue by enabling criminal activity in broadest measure, including tax evasion. U.S. Treasury's Crypto Clampdown Bitcoin has always struggled to marginalize official bodies. Janet Yellen, known for her crypto skepticism, and…