Tag: Crypto regulation

Turkish Justice Minister Akın Gürlek confirmed Richard James Schueler, known as Richard Heart, was detained in Istanbul’s Beşiktaş district on Oct. 14, 2026, along with his wife and three bodyguards. Searches at 15 addresses yielded $7.15 million in U.S. currency, 160,000 Turkish lira, six cold wallets, firearms, ammunition, luxury goods and electronic devices. The operation followed an Interpol Red Notice; the minister cited allegations of a...

FinCEN withdrew a December 2020 proposal that would have required banks and money services businesses to keep records on self-custodial wallet transfers above $3,000 and report those above $10,000. The agency also withdrew an October 2023 finding that would have designated international crypto mixing a primary money laundering concern under Section 311 of the USA PATRIOT Act. Neither proposal was finalized, so existing obligations are...

The Federal Reserve on Sept. 24 proposed full 1:1 reserve backing and standardized capital rules for Board-supervised payment stablecoin issuers under the GENIUS Act. Operational-risk capital would start at 2% of the first $20 billion outstanding, stepping down to 1% above $50 billion. Issuers would generally have to redeem tokens within two business days and publish monthly, accountant-examined reserve reports. A second proposal sets a bank...

U.S. crypto regulators moved on their own after Congress stalled, with the Commodity Futures Trading Commission sending a market-structure rulemaking to the White House and the Securities and Exchange Commission opening a temporary path for onchain stock trading. The shift comes two days after the Senate voted 49-50 against advancing the Clarity Act, short of the 60 votes needed to proceed. On Thursday, the CFTC filed Regulation Crypto Asset...