In a long-awaited decision involving the cryptocurrency “mixer” Tornado Cash, a U.S. district court on August 17, 2023, upheld the broad authority of the Department of the Treasury’s.
Cyberspace is a domain that has revolutionized the world. Massive amounts of data can be communicated from device to device from the other side of the room or the other side of the world. The number of services that are now available to the average consumer through a personal computer, smartphone, or other device are truly mindboggling.
To help you keep abreast of relevant activities, below find a breakdown of some of the biggest events at the federal and state levels to impact the Consumer Finance Services industry.
As individuals and businesses alike continue to rely more on technology, cyber threats constitute a persistent threat to privacy, economy, and national security. Cybersecurity remains a complex issue: Not all cyber threats are the same, nor is there one-solution-fits-all response for them. The incoming Administration and Congress should take cyber issues seriously by increasing support for private businesses, continuing to share threat information, and developing ways to work more closely with international partners.
On September 21, 2021, the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) announced several actions focused on disrupting criminal digital finance.