Citing an unnamed official, Bloomberg said Treasury won’t go after crypto firms that don’t meet the tax code’s definitions of a “broker.”
According to the US Treasury Department, the suspect solicited donations for a militant group involved in the Syrian civil war.
Federal Reserve Chairman Jerome Powell, Securities and Exchange Commission Chair Gary Gensler and Commodity Futures Trading Commission Acting Chair Rostin Behnam will also participate in Monday's meeting.
The report highlighted virtual currencies and cash as potential ways to hide income from the government.
The move is part of a sweeping set of actions taken by the U.S. government against alleged Russian election interference.
BitPay is accused of facilitating over 2,100 transactions with individuals in sanctioned nations.
Yellen succeeds Steven Mnuchin in running the U.S. government’s treasury. Here’s what she will oversee in the crypto world.
“I think we need to look closely at how to encourage their use for legitimate activities while curtailing their use for malign and illegal activities,” Janet Yellen wrote.
The U.S. should examine how it can curtail the use of crypto for illicit financing, the former Fed Chair said.
Reps. Warren Davidson, Tom Emmer, Ted Budd and Scott Perry urged Steven Mnuchin to rethink his rumored self-hosted wallet regulations in an open letter Wednesday that warned such rules might "crush a nascent industry."
Coinbase CEO Brian Armstrong publicly voiced concern that the outgoing Trump Administration may ram through onerous new data-collection requirements for crypto exchanges.
The pair is accused of having stolen $16.8 million from customers of three different crypto exchanges, including two in the U.S.
Tensions with Iran may be behind U.S. Treasury Secretary Steven Mnuchin’s cryptocurrency compliance comments on Wednesday.
U.S. Treasury Secretary Steven Mnuchin said FinCEN is preparing "significant new requirements" around cryptocurrencies to tamp down illicit activity.
“There was a clear agreement ... that Libra, in particular, raises some very significant concerns, and cryptocurrencies more broadly," said Mnuchin.