Yellen Praises AML Reform, Warns of Cryptocurrency Risks

Janet Yellen speaks to lawmakers on Wednesday, Nov. 29, 2017. At an industry roundtable on Wednesday, February 10, 2021, Yellen identified the illicit use of cryptocurrency as a growing problem. (Getty Images)


Legs & Regs


Enforcement Actions

The Office of Foreign Assets Control of the U.S. Treasury Department settled with the Atlanta, GA-based digital currency payment service provider for potential civil liability for 2,102 apparent violations of multiple U.S. sanctions programs.
New York Attorney General Letitia James entered into a settlement agreement with the various entities comprising two cryptocurrency trading platforms that orders them to stop New York trading and pay a combined $18.5 million penalty for deceiving clients and hiding $850 million in losses.