Tag Archives: cryptocurrency

Sen. Margaret Wood Hassan Poses Questions to DOJ Over Cryptocurrency

Cryptocurrency

Sen. Margaret Wood Hassan, D-N.H., has asked the Department of Justice about authorities used by agencies within DOJ to regulate U.S. cryptocurrency exchanges, kiosks, over-the-counter cryptocurrency trading desks and their users. The senator made the inquiry amid the increasing use of the new financial technology for criminal purposes.

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GSA Offering Over 7 Bitcoins During End of Season Auction; Thomas Meiron Quoted

Cryptocurrency Auction

The General Services Administration (GSA) has announced eight auction lots of a combined 7.85 bitcoins estimated to be worth over $360,000 as part of its End of Season sale. The cryptocurrencies, the last from GSA Auctions for 2021, are up for bidding until Wednesday, with an option for extension to take in last-minute offers, the agency said Monday.

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CISA’s Nitin Natarajan: Tighter Cryptocurrency Regulations Won’t Deter Ransomware Attackers

Nitin Natarajan

Nitin Natarajan, deputy director of the Cybersecurity and Infrastructure Security Agency (CISA), said a crackdown on cryptocurrency would not hamper threat actors from launching ransomware attacks. “Criminals have always found an innovative way to continue the attack [through] some mechanism so if we were to magically flip a switch and make Bitcoin for instance completely transparent, they're going to find another way to do it,” said Natarajan.

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FTC: Consumers Lost $80M to Cryptocurrency Scams Over Six-Month Period

Cryptocurrency Fraud

A Federal Trade Commission (FTC) report says consumer losses related to cryptocurrency investment scams grew 10-fold year-over-year to more than $80 million from October 2020 to March 2021. FTC said Monday that it analyzed almost 7,000 complaints from digital currency fraud victims during the six-month period and found that the median amount they lost was $1,900.

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IRS Commissioner Charles Rettig: Agency Needs New Funds to Address Taxing Issues

Charles Rettig

Charles Rettig, the commissioner of the Internal Revenue Service (IRS), said the agency needs a funding boost to bolster modernization efforts and keep up with growing responsibilities. Rettig said the agency has been experiencing resource cuts, which enlarge the amount of uncollected U.S. taxes. He said tax evasion methods serve as a critical threat now faced by IRS.

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GSA to Hold Auction for Excess Cryptocurrency Assets

Bitcoin Auction

The General Services Administration (GSA) will hold its second-ever cryptocurrency sale on March 29th as part of the federal government’s clearinghouse operations for excess bitcoin assets. GSA Auctions will open commission-free bidding activities at 4 p.m. CT. Winning bidders must have a digital wallet and are required to make payments through wire transfer by April 2nd.

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