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☆ Deputy Treasury Secretary on crypto crime: Need additional tools from Congress to catch bad actors
▼ + stars: | 2024-04-10 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDeputy Treasury Secretary on crypto crime: Need additional tools from Congress to catch bad actorsDeputy Treasury Secretary Wally Adeyemo joins 'Squawk Box' to discuss the use of cryptocurrency and digital assets by terrorist groups, why he believes Congress needs to approve new regulatory rules to fight crypto crime, and more.

Persons: Wally Adeyemo

☆ Sen. Bob Menendez grills Treasury official on curbing illicit finance a month before bribery trial
▼ + stars: | 2024-04-09 | by ( Ryan Anastasio | ) www.cnbc.com time to read: +3 min

U.S. Sen. Bob Menendez, D-N.J., at center right, and his wife, Nadine Menendez, center rear, leave Manhattan Federal Court in New York City following his arraignment, March 11, 2024. Sen. Bob Menendez questioned a Treasury Department official Tuesday on curbing illegal finance as he prepares to stand trial in a month with his wife and two other men on federal bribery charges. Menendez also slammed the Biden administration for not stopping Iran under current sanctions from selling its oil to entities in countries including China. "None of that money has gone to Iran, and that money is not going to go directly to Iran," Adeyemo said. His wife, Nadine Menendez, and two of the businessmen, Wael Hana and Fred Daibes, will be tried with him.

Persons: Sen, Bob Menendez, Nadine Menendez, Wally Adeyemo, Menendez, Vladimir Putin, Biden, Adeyemo, John Kennedy, Wael Hana, Fred Daibes, Jose Uribe Organizations: Manhattan Federal, Treasury Department, New, New Jersey Democrat, Bloomberg, U.S . Department of Agriculture, Senate Foreign Relations Locations: Manhattan, New York City, New Jersey, New York, Ukraine, Iran, China, Venezuela, Israel, Egypt

☆ The IRS's free tax filing system is officially open. Here's everything you need to know.
▼ + stars: | 2024-03-12 | by ( Allie Kelly | ) www.businessinsider.com time to read: +3 min

Read previewThe Internal Revenue Service and the US Department of the Treasury officially launched their Direct File tax program on March 12. Direct File — now available in both English and Spanish — has been piloted in several states and offers Americans a free way to file their taxes. With Direct File, taxpayers can file their taxes directly from their smartphone, laptop, or desktop computer. The Direct File program will show taxpayers clear math on the taxes they owe and their expected tax refund. "Our priority in launching this new service is to save taxpayers time and money they can spend on themselves and their families."

Persons: —, Spanish —, Joe Biden's, Wally Adeyemo, Natalie Quillian, Quillian Organizations: Service, Revenue Service, US Department of, Treasury, Business, Taxpayers, Social, Treasury Department, IRS, Staff Locations: Spanish, California , Arizona, Florida , Massachusetts, New Hampshire , Nevada , New York, South Dakota , Tennessee , Texas, Washington, Wyoming

☆ IRS free tax filing program launches in 12 pilot states. Here's what to know
▼ + stars: | 2024-03-12 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +1 min

After weeks of testing with roughly 1,500 returns, Direct File, a free tax filing program from the IRS, is now fully open in 12 pilot states, according to the U.S. Department of the Treasury. While the pilot focuses on "simple tax situations," the Treasury estimates the pilot could cover about one-third of tax situations for 19 million taxpayers. "Dozens of countries have provided free tax options to their citizens for years," Deputy Secretary of the Treasury Wally Adeyemo said during a press call on Monday. "American taxpayers who want to file their taxes for free directly with the IRS should have that option." More from Personal Finance:Trump vs. Biden: What a presidential election rematch could mean for your taxesTax pros brace for 'tidal wave' of crypto tax scrutiny from the IRS.

Persons: Wally Adeyemo, Biden, Adeyemo Organizations: U.S . Department of, Treasury, Finance, Trump, Economic Security

☆ The US wants to boost affordable housing by using billions in unspent COVID aid
▼ + stars: | 2024-03-06 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

The US Treasury Department is making unused COVID funds available to support housing projects. The State and Local Fiscal Recovery Funds has around $40 billion in unspent money, Reuters said. The Treasury will also step up efforts to understand the impact of climate risks on housing supply. AdvertisementBillions of unspent pandemic dollars have been made available for housing projects as the federal government steps up efforts to tackle the shortage of affordable homes. The department also indefinitely extended backstop financing for a risk-sharing program between the Department of Housing and Urban Development and local financing agencies.

Persons: —, Wally Adeyemo Organizations: US Treasury Department, Reuters, Treasury, Service, US Treasury, of Housing, Urban Development Locations: State

☆ Zimbabwe leader and wife sanctioned by US for alleged corruption and human rights abuse
▼ + stars: | 2024-03-05 | by ( Nimi Princewill | ) edition.cnn.com time to read: +4 min

CNN —Zimbabwe’s President Emmerson Mnangagwa and first lady Auxillia have come under a slate of new US sanctions imposed that also targeted senior government officials accused of corruption and human rights abuses. Incumbent President Mnangagwa, 81, who was the speaker of the Zimbabwean parliament in 2003, was among 76 high-ranking officials hit by the US sanctions at the time. And as long as members of Corporate Zimbabwe are under sanctions, we are under sanctions,” he added. His wife, Auxillia Mnangagwa, was also sanctioned for her alleged complicity in corruption. Mnangagwa, nicknamed “The Crocodile,” succeeded authoritarian leader Mugabe in 2017 after helping to orchestrate the coup that ousted him.

Persons: CNN —, Emmerson Mnangagwa, Auxillia, Constantino Chiwenga, Oppah Muchinguri, Washington “, Robert Mugabe, Mnangagwa, Wally Adeyemo, Joe Biden, Nick Mnangagwa, Mnangagwa’s, “, Farai Marapira, ” Marapira, ” Mnangagwa, “ Mnangagwa, Auxillia Mnangagwa, ”, Mugabe Organizations: CNN, Defense, Washington, Treasury, US Treasury Department, Corporate Locations: Zimbabwe, Corporate Zimbabwe

☆ AI is Uncle Sam’s new secret weapon to fight fraud
▼ + stars: | 2024-02-28 | by ( Matt Egan | ) edition.cnn.com time to read: +5 min

Starting around late 2022, the Treasury Department began using enhanced fraud-detection methods powered by AI to spot fraud, CNN has learned. Treasury’s AI-powered fraud detection recovered $375 million in fiscal 2023 alone, Treasury officials tell CNN, marking the first time Treasury is publicly acknowledging it is using AI to detect fraud. Instead, Treasury officials say the type of AI they are using falls more into the bucket of machine learning and Big Data. The goal is to move with such speed that anomalies are flagged and banks are alerted before fraudulent checks are ever cashed, Treasury officials said. Catching fraud in millisecondsAmiram Shachar, co-founder and CEO of cloud security startup Upwind, told CNN the federal government should “absolutely” use AI to detect fraud.

Persons: Sam, Sam’s, Fraudsters, Wally Adeyemo, ”, ” Shachar, Steph Curry Organizations: New, New York CNN, Treasury Department, CNN, Treasury, Data, Washington, Office, Business Administration, Social, Internal Revenue Service, IRS, Google, Facebook, Penny Jar, NBA, Mastercard Locations: New York, Banks, Washington, Hong Kong

☆ UK PM Sunak says West should be bolder about seizing Russian assets
▼ + stars: | 2024-02-25 | by ( ) www.cnbc.com time to read: +2 min

(Photo by Alexey Kudenko - Host Photo Agency via Getty Images)Western nations should be bolder about confiscating Russian assets which they froze after the country's full-scale invasion of Ukraine in 2022, British Prime Minister Rishi Sunak said. "We must be bolder in hitting the Russian war economy .... And we must be bolder in seizing the hundreds of billions of frozen Russian assets," he said . Last month British Investment Minister Dominic Johnson met U.S. Deputy Treasury Secretary Wally Adeyemo to discuss the seizure of frozen Russian assets, but stressed this needed to be done in accordance with international law. The European Union, U.S., Japan and Canada froze some $300 billion of Russian central bank assets in 2022 when Russia invaded Ukraine. Sunak also urged the U.S. to continue to provide financial and military support for Ukraine.

Persons: Alexey Kudenko, Rishi Sunak, Sunak, Dominic Johnson, Wally Adeyemo Organizations: Red, Getty Images, British, Sunday Times, U.S, European Union, Ukraine Locations: MOSCOW, RUSSIA, Moscow, Russia, Soviet Union, Ukraine, U.S, Japan, Canada, Russian

☆ The Quiet Diplomat Who Shaped Biden’s Global Economic Policy
▼ + stars: | 2024-02-20 | by ( Jim Tankersley | ) www.nytimes.com time to read: +1 min

In the fall of 2022, two top Biden administration officials met in New York with a key European diplomat. Over dinner outdoors, they strategized about how best to throttle Russia’s oil revenues in retaliation for its invasion of Ukraine. Europe, Mr. Seibert said, had big problems with President Biden’s sweeping new climate law. They were worried the president was trying to ensure the future of U.S. manufacturing at the expense of some of America’s closest allies. The exchange set off months of behind-the-scenes talks, a major regulatory concession from the Treasury Department and high-level negotiations between Mr. Biden and fellow world leaders, all meant to soothe those concerns.

Persons: Bjoern Seibert, Mike Pyle, Wally Adeyemo, Seibert, Biden’s, Mr, Biden Organizations: Biden, National Security Council, European Commission, European Union, Treasury Department, Mr Locations: New York, European, Ukraine, United States, America

Closing the wealth gap is more difficult because a significantly larger number of white households traditionally have money in stocks and mutual funds. A separate Fed survey shows that as of 2022, about 65.6% of white households had investments in stocks, compared with 28.3% for Hispanic households and 39.2% for Black households. More than 50% of Black financial wealth is invested in pensions, the New York Fed found. In contrast, less than 30% of white financial wealth is invested in pensions, with about 50% invested in businesses, equities, and mutual funds. In April of 2020, more than 40% of Black business owners reported they were not working, compared with only 17% of white business owners.

Persons: ”, Janelle Jones, Jones, Walley Adeyemo, Adeyemo, ___, Charles Schwab Organizations: New York Federal Reserve Bank, Black, Washington Center for Equitable, Federal Reserve, New York Fed, Bureau of Labor Statistics, Associated Press, Charles, Charles Schwab Foundation, Inc, AP Locations: U.S, America

☆ The U.S. economy has 'a great deal of momentum', says Deputy Treasury Secretary Wally Adeyemo
▼ + stars: | 2024-02-02 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe U.S. economy has 'a great deal of momentum', says Deputy Treasury Secretary Wally AdeyemoWally Adeyemo, Deputy Treasury Secretary, joins 'Closing Bell Overtime' to talk the latest U.S. jobs report, economic growth, government sanctions and more.

Persons: Wally Adeyemo Wally Adeyemo

It’s still not clear which vehicles would be eligible for the full $7,500 tax credit under the new rules because the government has yet to publish any lists. But they are still years away from being able to produce an electric vehicle without materials and components from China. Sam Abuelsamid, a mobility analyst for Guidehouse Insights, expects many EVs now eligible for the full $7,500 U.S. tax credit will see that cut in half next year when the new regulations take effect. Getting the tax credit upfront — rather than waiting until filing tax returns next year — “will actually reduce your monthly payment, which is a major stumbling block for consumers,” he said. Adeyemo and other officials declined to say whether batteries from the Ford plant would qualify for tax credits.

Persons: —, Biden, Joe Biden's, It’s, Wally Adeyemo, David Turk, Adeyemo, Turk, John Bozzella, Sam Abuelsamid, EVs, Abuelsamid, — “, ”, Joe Manchin, Manchin, Janet Yellen, Ford, Tom Krisher Organizations: WASHINGTON, Treasury, Energy, EV, Administration, “, Motors, Hyundai, Ford, GM, Alliance for Automotive Innovation, Guidehouse, Democratic, Natural Resources Committee, Ford Motor Co, Amperex Technology, Associated Press Locations: U.S, China, United States, North Korea, Russia, Iran, North America, Michigan, Detroit

☆ US sanctions cryptocurrency mixer Sinbad over alleged North Korea ties
▼ + stars: | 2023-11-29 | by ( ) www.reuters.com time to read: +2 min

WASHINGTON, Nov 29 (Reuters) - The United States on Wednesday imposed sanctions on a virtual currency mixer the Treasury Department said has processed millions of dollars worth of cryptocurrency from major heists carried out by North Korea-linked hackers. Lazarus, which has been sanctioned by the U.S., has been accused of carrying out some of the largest virtual currency heists to date. In March 2022, for example, it allegedly stole about $620 million in virtual currency from a blockchain project linked to the online game Axie Infinity. A virtual currency mixer is a software tool that pools and scrambles cryptocurrencies from thousands of addresses. Those that engage in certain transactions with the mixer also risk being hit with sanctions.

Persons: Lazarus, Wally Adeyemo, Sinbad, Daphne Psaledakis, Kanishka Singh, Paul Grant, Chizu Nomiyama, Paul Simao Organizations: Treasury Department, North, Federal Bureau of Investigation, FBI, United Nations, Blender, Treasury, Thomson Locations: United States, North Korea, heists, U.S, Finland, Netherlands

Bitcoin coins are seen at a stand during the Bitcoin Conference 2023, in Miami Beach, Florida, U.S., May 19, 2023. REUTERS/Marco Bello/File Photo Acquire Licensing RightsNov 29 (Reuters) - The U.S. government will cut off cryptocurrency companies from the broader U.S. economy if they fail to block and report illicit money flows, Deputy Treasury Secretary Wally Adeyemo warned the industry on Wednesday. The Biden administration on Tuesday sent a letter to Congress, requesting new legislation that would grant Treasury the authority to police crypto marketplaces used by actors the U.S. government deems illicit, Adeyemo said. Binance said in response that it had worked hard to make the platform "safer and even more secure." Reporting by Hannah Lang in Washington; Editing by Michelle PriceOur Standards: The Thomson Reuters Trust Principles.

Persons: Marco Bello, Wally Adeyemo, Adeyemo, Biden, Changpeng Zhao, Binance, Hannah Lang, Michelle Price Organizations: REUTERS, U.S, Blockchain Association, Treasury, Palestinian, Prosecutors, Islamic, Thomson Locations: Miami Beach , Florida, U.S, Israel, Gaza, al Qaeda, Islamic State, Iraq, Syria, Washington

☆ U.S. targets maritime companies, vessels for shipping oil above Russian price cap
▼ + stars: | 2023-11-16 | by ( Daphne Psaledakis | ) www.reuters.com time to read: +2 min

The seized Russian-flagged oil tanker Pegas is seen anchored off the shore of Karystos, on the Island of Evia, Greece, April 19, 2022. REUTERS/Vassilis Triandafyllou/File Photo Acquire Licensing RightsWASHINGTON, Nov 16 (Reuters) - The United States on Thursday imposed sanctions on maritime companies and vessels for shipping oil sold above the G7's price cap, as Washington seeks to close loopholes in the mechanism designed to punish Moscow for its war in Ukraine. It said the vessels used U.S.-person services while transporting the Russian-origin crude oil. The cap bans Western companies from providing maritime services, including insurance, finance and shipping, for Russian seaborne oil exports sold above $60 a barrel, while seeking to keep oil flowing to markets. “Shipping companies and vessels participating in the Russian oil trade while using Price Cap Coalition service providers should fully understand that we will hold them accountable for compliance,” Deputy Treasury Secretary Wally Adeyemo said in the statement.

Persons: Vassilis, Wally Adeyemo, Daphne Psaledakis, Laura Sanicola, Ismail Shakil, Susan Heavey, Chizu Organizations: REUTERS, Rights, The U.S . Treasury Department, United, “ Shipping, Coalition, Ukraine, Thomson Locations: Russian, Karystos, Evia, Greece, United States, Washington, Moscow, Ukraine, The U.S, United Arab Emirates, U.S, Australia, Price

☆ Treasury Department's hunt for Russian oil sanction violators on the seas is intensifying
▼ + stars: | 2023-11-16 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +6 min

"Management of all the Sovcomflot ships was transferred to Sun Ship Management in March/April 2022 when their offices in Europe were closed. 30 ship owners targeted in new Treasury probeThis is just one example of the murkiness within the Russian oil trade. There are grey areas in the U.S. government's Russian oil guidelines, though the efforts can ultimately lead maritime investigators to the truth. In the U.S. Treasury's "Preliminary Guidance on Implementation of a Maritime Services Policy and Related Price Exception for Seaborne Russian Oil," ship owners are under a Tier 2 category. This document could provide a "safe harbor" for ship owners who are relying on that customer's "attestation" to comply with sanctions.

Persons: Wally Adeyemo, Matthew Wright, Wright, it's, hasn't, They're, shipowners, Andy Lipow, Lipow, Brent Organizations: Windward, U.S . Department, Foreign Assets Control, Treasury, Shipping, Coalition, Ukraine, United, Kazan Shipping Incorporated's, Progress Shipping Company, CNBC, Sovcomflot, Management, Sun Ship Management, Maritime Services, Ship, Lipow Oil Associates, U.S . Treasury, European Union, AIS Locations: Morocco, Price, United Arab Emirates, Kazan, Kazan Shipping Incorporated's Kazan, UAE, Europe, U.S, Asia, Ukraine, Hong Kong, China, India

Moody's is the last of the three major rating agencies to maintain a top rating for the U.S. government. Fitch changed its rating from triple-A to AA+ in August, joining S&P which has had an AA+ rating since 2011. “While the statement by Moody’s maintains the United States’ AAA rating, we disagree with the shift to a negative outlook. The sharp rise in Treasury yields "has increased pre-existing pressure on US debt affordability," Moody's said. “Moody’s just downgraded our credit rating outlook to negative because of our out-of-control government spending and deficits," hardline Republican Representative Andy Harris said on X, formerly known as Twitter.

Persons: Shannon Stapleton, Joe Biden's, Fitch, Moody's, Karine Jean, Pierre, Moody’s, Wally Adeyemo, Adeyemo, Biden, Quincy Krosby, Donald Trump, Mike Johnson, “ Moody’s, Andy Harris, ”, Richard Rohan Francis, Davide Barbuscia, Andrea Shalal, David Morgan, Caroline Valetkevitch, Ira Iosebashvili, Megan Davies, Shilpi Majumdar, Shounak Dasgupta, David Gregorio, Chris Reese Organizations: REUTERS, . House, U.S ., Aaa, White, Republican, States ’ AAA, Treasury, Reserve, LPL, New York Times, Republicans, Democratic, Thomson Locations: New York City, U.S, WASHINGTON, American, Siena, Nevada , Georgia, Arizona , Michigan, Pennsylvania, Trump, Wisconsin

☆ Moody's changes US ratings outlook to negative, affirms AAA
▼ + stars: | 2023-11-10 | by ( ) www.reuters.com time to read: +7 min

REUTERS/Shannon Stapleton/File Photo Acquire Licensing RightsNov 10 (Reuters) - Moody's on Friday changed the outlook on the government of United States of America's ratings to "negative" from "stable". Moody's affirmed the long-term issuer and senior unsecured ratings at "Aaa". COMMENTS:REPUBLICAN REPRESENTATIVE ANDY HARRIS, ON X SOCIAL MEDIA“Moody’s just downgraded our credit rating outlook to negative because of our out-of-control government spending and deficits. "I don't think that there is a significant consequence. WALLY ADEYEMO, DEPUTY SECRETARY OF THE TREASURY"While the statement by Moody’s maintains the United States’ Aaa rating, we disagree with the shift to a negative outlook.

Persons: Shannon Stapleton, Moody's, ANDY HARRIS, JOHN CORNYN, ” STEVEN RICCHIUTO, you've, ” THIERRY WIZMAN, MACQUARIE, “ Moody’s, ” MICHAEL GREEN, JACK ABLIN, CHICAGO “, it's, ”, ” QUINCY KROSBY, CAROL SCHLEIF, We've, CHRISTOPHER HODGE, KARINE JEAN, PIERRE, Moody’s, WALLY ADEYEMO, Biden Organizations: REUTERS, Aaa, Moody’s Investors Service, Capitol, FX, NEW, Republicans, Democrats, BMO, KARINE, Republican, Congressional Republicans, States ’ Aaa, Biden Administration, Global Finance, Markets, Thomson Locations: New York City, U.S, United States, MIZUHO, Japan, CHICAGO, CHARLOTTE, NORTH CAROLINA, MINNEAPOLIS , MN, American

☆ Moody’s sends a warning to America: Your last AAA credit rating is at risk
▼ + stars: | 2023-11-10 | by ( Jason Moon | Elisabeth Buchwald | ) edition.cnn.com time to read: +4 min

New York CNN —The United States is one step closer to losing its last perfect credit rating after Moody’s Investors Service changed the outlook of the nation’s debt to negative on Friday after markets closed. These effects would likely be even more painful if Moody’s does eventually downgrade the US debt. The nation’s diminished fiscal strength, undone by extreme partisanship in Washington, was a key driver of the action, according to a statement from Moody’s. Standard and Poor’s downgraded the United States for the first time in 2011, following the debt ceiling standoff then. In August, Fitch Ratings knocked America’s credit rating down after the most recent debt ceiling debate.

Persons: America’s, Wally Adeyemo, “, Moody’s, Poor’s, Kevin McCarthy, Mike Johnson, Johnson, Karine Jean, Pierre Organizations: New, New York CNN, Moody’s Investors Service, United, AAA, Fitch, House Press, Republican, Treasury Locations: New York, United States, Washington, Moody’s, ”, American

☆ Biden officials reject Moody's shift to 'negative' outlook, point to Republican 'dysfunction'
▼ + stars: | 2023-11-10 | by ( ) www.reuters.com time to read: +1 min

U.S. President Joe Biden delivers remarks to United Auto Workers (UAW) union members in Belvidere, Illinois, U.S., November 9, 2023. REUTERS/Leah Millis/File Photo Acquire Licensing RightsWASHINGTON, Nov 10 (Reuters) - Top Biden administration officials on Friday rejected a decision by Moody's ratings agency to downgrade its U.S. economic outlook to negative from stable, calling the shift a reflection of what they called "extremism and dysfunction" among congressional Republicans. “While the statement by Moody’s maintains the United States’ AAA rating, we disagree with the shift to a negative outlook. The American economy remains strong, and Treasury securities are the world’s preeminent safe and liquid asset," Deputy Treasury Secretary Wally Adeyemo said in a statement. White House spokesperson Karine Jean-Pierre said the change was "yet another consequence of congressional Republican extremism and dysfunction."

Persons: Joe Biden, Leah Millis, “, Moody’s, Wally Adeyemo, Karine Jean, Pierre, Andrea Shalal Organizations: United Auto Workers, UAW, REUTERS, Rights, Biden, States ’ AAA, Republican, Thomson Locations: Belvidere , Illinois, U.S, American

WASHINGTON (AP) — The credit rating agency Moody’s Investors Service lowered its outlook on the U.S. government's debt on Friday to “negative” from “stable,” citing the cost of rising interest rates and political polarization in Congress. Moody's retained its top triple-A credit rating on U.S. government debt, though it is the last of the three major credit rating agencies to do so. A reduced outlook, however, raises the risk that Moody's could eventually strip its triple-A rating from the U.S. as well. A lower rating on U.S. debt could cost taxpayers if it leads borrowers to demand higher interest rates on Treasury bills and notes. Analysts have warned that with interest rates heading higher, interest costs on the national debt will eat up a rising share of tax revenue.

Persons: Moody's, Fitch, Biden, Moody’s, Wally Adeyemo, “, ” Moody's Organizations: WASHINGTON, Moody’s Investors Service, Fitch, AAA, Poor's, Treasury, States ’ Aaa Locations: American, Washington, U.S

The White House is seen at dusk on September 30, 2023 in Washington, DC. Moody's Investors Service on Friday lowered its ratings outlook on the United States' government to negative from stable, pointing to rising risks to the nation's fiscal strength. The ratings agency has affirmed the long-term issuer and senior unsecured ratings of the U.S. at Aaa. Moody's move to cut its outlook arrives as Congress faces the looming threat of a government shutdown once more. "Moody's decision to change the U.S. outlook is yet another consequence of Congressional Republican extremism and dysfunction," White House press secretary Karine Jean-Pierre said in a statement.

Persons: Moody's, Wally Adeyemo, Mike Johnson, Karine Jean, Pierre, Fitch Organizations: Moody's, Aaa, United States, Republican, White, Democratic, AAA Locations: Washington ,, United States, Washington, United, American, Jan, U.S

☆ US Treasury's Adeyemo Sees More Actions Against Hamas in Coming Days, Weeks
▼ + stars: | 2023-11-09 | by ( Nov. | At P.M. | ) www.usnews.com time to read: +3 min

"We're going to see actions taken by our allies and partners," Adeyemo said. Since the Palestinian militant group's deadly Oct. 7 attack on Israel, Washington has imposed two rounds of sanctions on Hamas. Nelson "pledged continued engagement with those who have taken proactive steps to investigate, identify, and disrupt Hamas-related activity," the Treasury said. Such transactions combining pools of assets or delaying transaction processing can hide the beneficial ownership of crypto assets, Adeyemo said. (Reporting by Andea Shalal in New York and Daphne Psaledakis in Washington; Writing by David Lawder, Editing by Howard Goller)

Persons: Andrea Shalal, Daphne Psaledakis NEW, Wally Adeyemo, Adeyemo, Brian Nelson, Nelson, doesn't, Andea Shalal, Daphne Psaledakis, David Lawder, Howard Goller Organizations: WASHINGTON, ., Reuters NEXT, Treasury, Terrorism, Financial Intelligence, FOCUS, USA Locations: Israel, Washington, Europe, New York

☆ Reuters NEXT Treasury's Adeyemo says 'far better' to see Russia buying tankers than tanks
▼ + stars: | 2023-11-09 | by ( Andrea Shalal | ) www.reuters.com time to read: +3 min

NEW YORK, Nov 9 (Reuters) - U.S. Deputy Secretary Wally Adeyemo on Thursday said the Group of Seven-led coalition that imposed a price cap on Russian oil last December was shifting its focus from reducing Russian revenues to raising Moscow's cost of shipping its oil. "From my standpoint, them buying these tankers and spending money on tankers was far better than spending money on tanks," he said. It also means that enforcing the price cap will have limited impact on Russian revenues. G7 countries and Australia imposed sanctions in December 2022 that prohibit shippers or insurers domiciled in member countries from offering services to facilitate Russian oil exports when the price is above $60 a barrel. He gave no further details on what steps could be taken to increase Russia's costs.

Persons: Wally Adeyemo, Adeyemo, Andrea Shalal, Deepa Babington Organizations: Reuters NEXT, Reuters, Thomson Locations: New York, Ukraine, Russia, refiners, China, India, Australia, Western

☆ Congress Must Aid Fight Against Illicit Use of Crypto, Treasury Official Says
▼ + stars: | 2023-11-08 | by ( Richard Vanderford | ) www.wsj.com time to read: 1 min

Deputy Treasury Secretary Wally Adeyemo. Photo: daniel leal/Agence France-Presse/Getty ImagesA senior Treasury Department official said the Biden administration wants new powers from Congress to aid in a crackdown on the illicit use of cryptocurrencies, citing digital asset flows allegedly connected to Palestinian militant group Hamas. Treasury has been in communication with Democrats and Republicans about actions that they could take, Deputy Treasury Secretary Wally Adeyemo said Tuesday in Washington at the annual meeting of the Securities Industry and Financial Markets Association, a trade group.

Persons: Wally Adeyemo, daniel leal, Biden Organizations: Agence France, Treasury Department, Hamas, Treasury, Securities Industry, Financial Markets Association Locations: Washington

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